Principal Financial Group Inc. Sells 276,237 Shares of Hexcel Co. (NYSE:HXL)

Principal Financial Group Inc. lowered its position in shares of Hexcel Co. (NYSE:HXL) by 59.3% in the third quarter, HoldingsChannel reports. The firm owned 189,405 shares of the aerospace company’s stock after selling 276,237 shares during the period. Principal Financial Group Inc.’s holdings in Hexcel were worth $11,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HXL. Summit Financial LLC lifted its position in shares of Hexcel by 2.9% during the second quarter. Summit Financial LLC now owns 5,357 shares of the aerospace company’s stock worth $335,000 after purchasing an additional 153 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in Hexcel by 3.7% in the third quarter. Insigneo Advisory Services LLC now owns 4,859 shares of the aerospace company’s stock valued at $300,000 after buying an additional 172 shares during the period. Huntington National Bank boosted its stake in Hexcel by 30.8% during the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after acquiring an additional 225 shares during the last quarter. NBW Capital LLC grew its holdings in shares of Hexcel by 1.1% in the 2nd quarter. NBW Capital LLC now owns 27,246 shares of the aerospace company’s stock valued at $1,702,000 after buying an additional 302 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 326 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Hexcel from $78.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada upgraded shares of Hexcel from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $74.00 in a report on Thursday, December 19th. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Thursday, December 19th. Truist Financial cut their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Hexcel presently has a consensus rating of “Hold” and an average target price of $71.33.

Hexcel Trading Down 0.3 %

Shares of HXL opened at $63.10 on Monday. The business’s fifty day moving average is $62.11 and its 200-day moving average is $62.45. Hexcel Co. has a 52-week low of $57.50 and a 52-week high of $77.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 48.17, a PEG ratio of 1.96 and a beta of 1.30.

Hexcel (NYSE:HXL) last released its quarterly earnings results 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. 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%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. Equities analysts anticipate that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Dividend Announcement

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

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.