Pacer Advisors Inc. Reduces Stake in Hexcel Co. (NYSE:HXL)

Pacer Advisors Inc. lessened its stake in shares of Hexcel Co. (NYSE:HXL) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,497 shares of the aerospace company’s stock after selling 499 shares during the period. Pacer Advisors Inc.’s holdings in Hexcel were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Financial LLC raised its position in Hexcel by 2.9% in the second quarter. Summit Financial LLC now owns 5,357 shares of the aerospace company’s stock valued at $335,000 after purchasing an additional 153 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Hexcel by 2.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,440 shares of the aerospace company’s stock valued at $542,000 after buying an additional 182 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Hexcel by 6.9% during the first quarter. Bleakley Financial Group LLC now owns 2,915 shares of the aerospace company’s stock worth $212,000 after buying an additional 187 shares during the period. Centerpoint Advisors LLC increased its position in shares of 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 acquiring an additional 223 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of 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. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HXL shares. Stifel Nicolaus lowered their price objective on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Truist Financial cut their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, Morgan Stanley dropped their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.54.

Hexcel Price Performance

Hexcel stock opened at $61.84 on Friday. The stock has a market cap of $5.14 billion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company has a fifty day simple moving average of $62.26 and a 200-day simple moving average of $65.64. 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 Co. has a 12-month low of $58.54 and a 12-month high of $77.09.

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

Hexcel Dividend Announcement

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

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.