Hsbc Holdings PLC Boosts Stock Position in Hexcel Co. (NYSE:HXL)

Hsbc Holdings PLC increased its position in shares of Hexcel Co. (NYSE:HXL) by 779.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 39,776 shares of the aerospace company’s stock after acquiring an additional 35,255 shares during the period. Hsbc Holdings PLC’s holdings in Hexcel were worth $2,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in shares of Hexcel by 155.6% in the second quarter. Renaissance Technologies LLC now owns 231,300 shares of the aerospace company’s stock valued at $14,445,000 after purchasing an additional 140,800 shares during the period. Quantbot Technologies LP boosted its position in Hexcel by 1,078.6% in the 2nd quarter. Quantbot Technologies LP now owns 63,609 shares of the aerospace company’s stock valued at $3,972,000 after buying an additional 58,212 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Hexcel by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,406,287 shares of the aerospace company’s stock worth $87,829,000 after acquiring an additional 103,679 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Hexcel by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 760,899 shares of the aerospace company’s stock worth $47,518,000 after acquiring an additional 9,367 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Hexcel by 3.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 41,004 shares of the aerospace company’s stock valued at $2,561,000 after acquiring an additional 1,184 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Hexcel Trading Down 0.4 %

HXL opened at $61.32 on Thursday. 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 Co. has a 52 week low of $58.54 and a 52 week high of $77.09. The business’s 50 day moving average is $62.30 and its two-hundred day moving average is $65.81. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 52.41, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29.

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

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, August 2nd. Hexcel’s dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HXL shares. BMO Capital Markets lowered their target price 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. 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 note on Tuesday, July 2nd. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. UBS Group dropped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.54.

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.