Federated Hermes Inc. Lowers Stock Position in Hexcel Co. (NYSE:HXL)

Federated Hermes Inc. trimmed its holdings in shares of Hexcel Co. (NYSE:HXL) by 5.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,181 shares of the aerospace company’s stock after selling 517 shares during the period. Federated Hermes Inc.’s holdings in Hexcel were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of HXL. Price T Rowe Associates Inc. MD raised its position in Hexcel by 151.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock worth $25,086,000 after acquiring an additional 207,434 shares in the last quarter. Evoke Wealth LLC purchased a new position in shares of Hexcel in the 4th quarter valued at about $2,036,000. Silvercrest Asset Management Group LLC lifted its stake in shares of Hexcel by 32.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock valued at $5,897,000 after purchasing an additional 19,736 shares during the period. Seven Eight Capital LP purchased a new stake in Hexcel during the first quarter worth about $1,109,000. Finally, Capital World Investors grew its position in Hexcel by 16.4% during the first quarter. Capital World Investors now owns 885,547 shares of the aerospace company’s stock worth $64,512,000 after buying an additional 124,900 shares during the period. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, July 19th. Morgan Stanley lowered their target price on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Stifel Nicolaus lowered their price objective on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, UBS Group cut their target price on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.54.

Hexcel Price Performance

Shares of NYSE:HXL opened at $62.22 on Tuesday. The company has a market cap of $5.17 billion, a P/E ratio of 53.18, a P/E/G ratio of 1.33 and a beta of 1.29. The business has a fifty day simple moving average of $62.59 and a 200-day simple moving average of $65.94. Hexcel Co. has a 52 week low of $58.54 and a 52 week high of $77.09. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51.

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

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.60 annualized dividend and a yield of 0.96%. Hexcel’s dividend payout ratio is currently 51.28%.

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.