Massachusetts Financial Services Co. MA Sells 291,414 Shares of Hexcel Co. (NYSE:HXL)

Massachusetts Financial Services Co. MA cut its stake in shares of Hexcel Co. (NYSE:HXL) by 19.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,175,217 shares of the aerospace company’s stock after selling 291,414 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.41% of Hexcel worth $73,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HXL. Norges Bank bought a new stake in shares of Hexcel during the 4th quarter valued at approximately $66,597,000. Ceredex Value Advisors LLC boosted its position in 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 buying an additional 532,550 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Hexcel by 114.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,321 shares of the aerospace company’s stock worth $31,786,000 after buying an additional 232,827 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Hexcel by 151.5% during 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 buying an additional 207,434 shares during the period. Finally, Sei Investments Co. boosted its position in Hexcel by 17.3% during the 4th quarter. Sei Investments Co. now owns 1,236,068 shares of the aerospace company’s stock worth $91,161,000 after buying an additional 182,333 shares during the period. 95.47% of the stock is owned by institutional investors.

Hexcel Stock Performance

Shares of HXL stock opened at $60.49 on Thursday. The firm has a market capitalization of $5.03 billion, a PE ratio of 51.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. The firm has a fifty day simple moving average of $62.98 and a two-hundred day simple moving average of $66.36. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. Hexcel Co. has a 12 month low of $58.54 and a 12 month high of $77.09.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $500.40 million during the quarter, compared to analyst estimates of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. Hexcel’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. Analysts forecast that Hexcel Co. will post 2.08 EPS for the current fiscal year.

Hexcel Announces Dividend

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

Analyst Ratings Changes

Several research firms recently commented on HXL. Stifel Nicolaus cut their target price on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. UBS Group dropped their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Morgan Stanley dropped their price target on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Finally, BMO Capital Markets lowered their price objective on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, July 19th. Two 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.com, Hexcel currently has an average rating of “Hold” and a consensus price target of $74.54.

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.