Hexcel Co. (NYSE:HXL) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its stake in Hexcel Co. (NYSE:HXL) by 53.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 932 shares of the aerospace company’s stock after acquiring an additional 326 shares during the period. First Horizon Advisors Inc.’s holdings in Hexcel were worth $58,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Hexcel by 5.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,251 shares of the aerospace company’s stock valued at $6,446,000 after acquiring an additional 5,270 shares during the period. Prospera Financial Services Inc grew its position in Hexcel by 56.0% during the 3rd quarter. Prospera Financial Services Inc now owns 45,056 shares of the aerospace company’s stock worth $2,786,000 after purchasing an additional 16,170 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in Hexcel in the third quarter valued at $304,000. Quest Partners LLC raised its holdings in shares of Hexcel by 166.9% in the third quarter. Quest Partners LLC now owns 11,888 shares of the aerospace company’s stock valued at $735,000 after buying an additional 7,434 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Hexcel by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 233,305 shares of the aerospace company’s stock worth $14,425,000 after buying an additional 24,776 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

Hexcel Stock Performance

Shares of HXL stock opened at $61.19 on Monday. The stock’s 50-day moving average is $60.97 and its two-hundred day moving average is $63.54. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The firm has a market cap of $4.96 billion, a P/E ratio of 46.71, a PEG ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51.

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

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. Hexcel’s dividend payout ratio is 45.80%.

Analyst Upgrades and Downgrades

Several research firms have commented on HXL. Wells Fargo & Company upped their price objective on Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday. Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Thursday, October 10th. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $76.00 to $68.00 in a report on Wednesday, August 14th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.31.

About Hexcel

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.