Raymond James & Associates Trims Stock Position in Hexcel Co. (NYSE:HXL)

Raymond James & Associates lessened its holdings in shares of Hexcel Co. (NYSE:HXL) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,817 shares of the aerospace company’s stock after selling 14,023 shares during the period. Raymond James & Associates owned approximately 0.12% of Hexcel worth $6,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new stake in Hexcel during the first quarter valued at $36,000. Principal Securities Inc. acquired a new stake in Hexcel during the fourth quarter valued at $51,000. GAMMA Investing LLC acquired a new stake in Hexcel during the fourth quarter valued at $53,000. Centerpoint Advisors LLC grew its position in Hexcel by 44.6% during the first quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after buying an additional 223 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Hexcel during the first quarter valued at $54,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on HXL shares. UBS Group dropped their price target 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Truist Financial dropped their target price on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Stifel Nicolaus dropped their target price on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Finally, BMO Capital Markets dropped their target price on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given 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 Performance

HXL opened at $63.70 on Wednesday. The firm has a market capitalization of $5.29 billion, a PE ratio of 54.44, a PEG ratio of 1.40 and a beta of 1.28. Hexcel Co. has a twelve month low of $58.81 and a twelve month high of $77.09. The firm’s 50-day moving average price is $63.72 and its 200 day moving average price is $67.66. The company has a current ratio of 2.75, a quick ratio of 1.55 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. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. Hexcel’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, sell-side analysts expect that Hexcel Co. will post 2.09 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend 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.