Allspring Global Investments Holdings LLC Sells 44,514 Shares of Hexcel Co. (NYSE:HXL)

Allspring Global Investments Holdings LLC cut its holdings in Hexcel Co. (NYSE:HXL) by 98.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 884 shares of the aerospace company’s stock after selling 44,514 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hexcel were worth $55,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Hexcel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 7,914,296 shares of the aerospace company’s stock valued at $576,556,000 after acquiring an additional 67,425 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of Hexcel by 4.0% during the 1st quarter. Earnest Partners LLC now owns 4,699,704 shares of the aerospace company’s stock valued at $342,373,000 after buying an additional 181,718 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hexcel by 143.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,466,380 shares of the aerospace company’s stock valued at $108,146,000 after buying an additional 864,405 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Hexcel by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,353,980 shares of the aerospace company’s stock valued at $99,857,000 after buying an additional 59,976 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Hexcel by 6.7% during the 1st quarter. Sei Investments Co. now owns 1,318,541 shares of the aerospace company’s stock valued at $96,056,000 after buying an additional 82,473 shares during the period. 95.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on HXL. Stifel Nicolaus reduced their price objective on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Truist Financial reduced their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on Hexcel from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Friday, June 28th. BMO Capital Markets reduced their price objective on Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, July 19th. Finally, UBS Group reduced their price objective on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Hexcel presently has an average rating of “Hold” and a consensus target price of $74.54.

Hexcel Trading Up 1.9 %

Shares of HXL stock opened at $60.49 on Tuesday. Hexcel Co. has a 12-month low of $58.54 and a 12-month high of $77.09. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $63.41 and its 200-day moving average price is $66.94. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 51.70, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29.

Hexcel (NYSE:HXL) last issued its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $484.26 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts predict that Hexcel Co. will post 2.08 EPS for the current fiscal year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a $0.15 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.60 annualized dividend and a yield of 0.99%. Hexcel’s dividend payout ratio is currently 51.28%.

Hexcel 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.