Hexcel Co. (NYSE:HXL) Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC decreased its stake in Hexcel Co. (NYSE:HXL) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,330 shares of the aerospace company’s stock after selling 2,550 shares during the period. Hexcel makes up 2.6% of ELCO Management Co. LLC’s portfolio, making the stock its 9th largest holding. ELCO Management Co. LLC owned approximately 0.08% of Hexcel worth $4,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in Hexcel in the 4th quarter worth $66,597,000. Wells Fargo & Company MN grew its position in Hexcel by 2.3% during the fourth quarter. Wells Fargo & Company MN now owns 287,357 shares of the aerospace company’s stock worth $21,193,000 after buying an additional 6,406 shares in the last quarter. Corient Private Wealth LLC grew its position in Hexcel by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 53,624 shares of the aerospace company’s stock worth $3,955,000 after buying an additional 143 shares in the last quarter. Assetmark Inc. increased its stake in Hexcel by 24.3% during the fourth quarter. Assetmark Inc. now owns 1,497 shares of the aerospace company’s stock valued at $110,000 after acquiring an additional 293 shares during the period. Finally, Advisory Services Network LLC raised its holdings in Hexcel by 22.2% in the 4th quarter. Advisory Services Network LLC now owns 7,820 shares of the aerospace company’s stock valued at $577,000 after acquiring an additional 1,420 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets decreased their price objective on Hexcel from $73.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Truist Financial dropped their price objective on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley decreased their target price 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, UBS Group dropped their price target 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 equities 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.54.

Hexcel Stock Down 1.1 %

Shares of HXL opened at $61.55 on Wednesday. The company has a market capitalization of $5.03 billion, a P/E ratio of 52.61, a PEG ratio of 1.37 and a beta of 1.29. Hexcel Co. has a one year low of $58.54 and a one year high of $77.09. The business’s 50 day simple moving average is $62.44 and its 200-day simple moving average is $65.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55.

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

Hexcel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, August 2nd. Hexcel’s payout ratio is presently 51.28%.

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.