Pallas Capital Advisors LLC Decreases Stock Holdings in Hexcel Co. (NYSE:HXL)

Pallas Capital Advisors LLC trimmed its position in Hexcel Co. (NYSE:HXL) by 21.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,056 shares of the aerospace company’s stock after selling 2,215 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Hexcel were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in HXL. AQR Capital Management LLC boosted its holdings in Hexcel by 277.9% in the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after acquiring an additional 1,246,765 shares in the last quarter. Millennium Management LLC boosted its holdings in Hexcel by 307.1% in the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock valued at $67,421,000 after acquiring an additional 814,402 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Hexcel by 215.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after acquiring an additional 590,975 shares in the last quarter. Ceredex Value Advisors LLC boosted its holdings in Hexcel by 280.7% in the second quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock valued at $45,107,000 after acquiring an additional 532,550 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Hexcel by 114.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,321 shares of the aerospace company’s stock valued at $31,786,000 after acquiring an additional 232,827 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Stock Performance

Shares of Hexcel stock opened at $60.51 on Thursday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 46.19, a PEG ratio of 1.48 and a beta of 1.29. The firm’s 50-day moving average is $61.60 and its 200 day moving average is $64.14. Hexcel Co. has a 1 year low of $57.50 and a 1 year high of $77.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.55.

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

Hexcel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is 45.80%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday. Truist Financial dropped their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Thursday, October 10th. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.46.

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.