Citigroup Inc. Lowers Holdings in Hexcel Co. (NYSE:HXL)

Citigroup Inc. lowered its position in Hexcel Co. (NYSE:HXL) by 35.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,431 shares of the aerospace company’s stock after selling 70,054 shares during the quarter. Citigroup Inc. owned about 0.15% of Hexcel worth $7,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Hexcel during the third quarter worth about $56,000. First Horizon Advisors Inc. increased its position in shares of Hexcel by 53.8% in the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock worth $58,000 after purchasing an additional 326 shares during the last quarter. Huntington National Bank raised its stake in Hexcel by 30.8% in the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 225 shares in the last quarter. Eastern Bank bought a new stake in Hexcel during the third quarter valued at approximately $62,000. Finally, GAMMA Investing LLC grew its stake in Hexcel by 34.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Stock Performance

Shares of NYSE:HXL opened at $63.39 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $61.12 and a 200-day moving average price of $63.39. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 48.28, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09.

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

Hexcel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s payout ratio is currently 45.80%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HXL shares. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Thursday, October 10th. UBS Group lifted their price target on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Royal Bank of Canada lowered Hexcel from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Hexcel currently has an average rating of “Hold” and a consensus price target of $70.58.

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.