Eastern Bank Invests $62,000 in Hexcel Co. (NYSE:HXL)

Eastern Bank bought a new position in shares of Hexcel Co. (NYSE:HXL) during the third quarter, according to its most recent filing with the SEC. The fund bought 1,000 shares of the aerospace company’s stock, valued at approximately $62,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HXL. Fidelis Capital Partners LLC bought a new stake in Hexcel in the 1st quarter valued at about $36,000. Centerpoint Advisors LLC raised its stake in Hexcel by 44.6% in the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Hexcel in the 1st quarter valued at about $54,000. GAMMA Investing LLC raised its stake in Hexcel by 34.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after acquiring an additional 276 shares during the period. Finally, Whittier Trust Co. raised its stake in Hexcel by 38.9% in the 3rd quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock valued at $92,000 after acquiring an additional 417 shares during the period. 95.47% of the stock is currently owned by institutional investors.

Hexcel Stock Down 0.5 %

HXL stock opened at $62.53 on Friday. Hexcel Co. has a 1-year low of $57.50 and a 1-year high of $77.09. The company has a current ratio of 2.76, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $61.65 and its 200 day moving average is $64.21. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same period last year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts predict that Hexcel Co. will post 2.07 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, November 1st. Hexcel’s payout ratio is currently 45.80%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday. Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on Hexcel from $65.00 to $62.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. UBS Group upped their price target on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Morgan Stanley decreased their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.62.

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.