OneDigital Investment Advisors LLC Decreases Holdings in Hexcel Co. (NYSE:HXL)

OneDigital Investment Advisors LLC trimmed its stake in Hexcel Co. (NYSE:HXL) by 11.7% during the third quarter, Holdings Channel reports. The fund owned 4,420 shares of the aerospace company’s stock after selling 584 shares during the period. OneDigital Investment Advisors LLC’s holdings in Hexcel were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in Hexcel by 277.9% in the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after purchasing an additional 1,246,765 shares during the last quarter. Millennium Management LLC raised its stake in shares of Hexcel by 307.1% in the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock valued at $67,421,000 after buying an additional 814,402 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Hexcel by 215.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after buying an additional 590,975 shares during the period. Ceredex Value Advisors LLC grew its stake in shares of Hexcel by 280.7% during the 2nd quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock worth $45,107,000 after acquiring an additional 532,550 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Hexcel by 151.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock worth $25,086,000 after acquiring an additional 207,434 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

Hexcel Stock Performance

NYSE:HXL opened at $61.20 on Friday. The stock has a market cap of $4.96 billion, a P/E ratio of 46.72, a PEG ratio of 1.73 and a beta of 1.30. 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 business’s 50-day moving average price is $60.97 and its two-hundred day moving average price is $63.66. Hexcel Co. has a twelve month low of $57.50 and a twelve month high of $77.09.

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

Hexcel Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.98%. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Analyst Upgrades and Downgrades

Several research firms have commented on HXL. UBS Group upped their price objective on shares of Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on shares of Hexcel from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Truist Financial cut their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Royal Bank of Canada lowered Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Hexcel presently has an average rating of “Hold” and an average target price 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.