Quest Partners LLC Buys 7,434 Shares of Hexcel Co. (NYSE:HXL)

Quest Partners LLC increased its stake in Hexcel Co. (NYSE:HXL) by 166.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,888 shares of the aerospace company’s stock after purchasing an additional 7,434 shares during the quarter. Quest Partners LLC’s holdings in Hexcel were worth $735,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Hexcel in the third quarter valued at $56,000. Huntington National Bank raised its stake in Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 225 shares during the period. Eastern Bank purchased a new stake in Hexcel during the third quarter valued at about $62,000. GAMMA Investing LLC boosted its position in Hexcel by 34.8% during the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after purchasing an additional 276 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of Hexcel by 38.9% in the third quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock worth $92,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Trading Up 1.6 %

NYSE HXL opened at $59.52 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $60.96 and its two-hundred day simple moving average is $63.72. Hexcel Co. has a twelve month low of $57.50 and a twelve month high of $77.09. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.73 and a beta of 1.30.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. Hexcel’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. Research analysts forecast that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, November 1st. Hexcel’s payout ratio is presently 45.80%.

Analyst Upgrades and Downgrades

HXL has been the subject of several analyst reports. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft cut their price target on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a report on Thursday. Truist Financial decreased their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price target on Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Hexcel presently has an average rating of “Hold” and a consensus price target of $71.31.

Hexcel Company Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.