Harbor Investment Advisory LLC bought a new position in Hexcel Co. (NYSE:HXL – Get Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,220 shares of the aerospace company's stock, valued at approximately $116,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HXL. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Hexcel by 1.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,247 shares of the aerospace company's stock worth $1,026,000 after acquiring an additional 262 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Hexcel by 2.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 12,078 shares of the aerospace company's stock worth $631,000 after acquiring an additional 275 shares during the last quarter. Ellevest Inc. boosted its stake in shares of Hexcel by 128.1% during the 1st quarter. Ellevest Inc. now owns 568 shares of the aerospace company's stock worth $34,000 after acquiring an additional 319 shares during the last quarter. Private Capital Group LLC boosted its stake in shares of Hexcel by 21.3% during the 1st quarter. Private Capital Group LLC now owns 2,164 shares of the aerospace company's stock worth $129,000 after acquiring an additional 380 shares during the last quarter. Finally, Semper Augustus Investments Group LLC boosted its stake in shares of Hexcel by 0.6% during the 4th quarter. Semper Augustus Investments Group LLC now owns 71,518 shares of the aerospace company's stock worth $3,705,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 97.56% of the company's stock.
Get Hexcel alerts:Insider Transactions at Hexcel
In other news, insider Thierry Merlot sold 2,500 shares of the business's stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $60.83, for a total value of $152,075.00. Following the sale, the insider now directly owns 34,011 shares in the company, valued at approximately $2,068,889.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.55% of the company's stock.
Hexcel Stock Performance
Shares of NYSE HXL opened at $52.50 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.55 and a current ratio of 2.55. The company has a market cap of $4.42 billion, a P/E ratio of 49.07 and a beta of 1.25. The firm's fifty day moving average is $59.65 and its two-hundred day moving average is $56.71. Hexcel Co. has a 52-week low of $46.77 and a 52-week high of $65.82.Hexcel (NYSE:HXL – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. The company had revenue of $393.00 million for the quarter, compared to the consensus estimate of $391.89 million. Hexcel had a net margin of 6.12% and a return on equity of 4.79%. Hexcel's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. As a group, analysts anticipate that Hexcel Co. will post 1.2 EPS for the current fiscal year.
Hexcel Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. Hexcel's dividend payout ratio (DPR) is presently 37.38%.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Hexcel to $63.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th. Vertical Research lifted their target price on shares of Hexcel to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th. StockNews.com cut shares of Hexcel from a "buy" rating to a "hold" rating in a research note on Thursday, September 15th. BMO Capital Markets lifted their target price on shares of Hexcel from $57.00 to $66.00 and gave the company a "market perform" rating in a research note on Tuesday, August 2nd. Finally, Morgan Stanley upgraded shares of Hexcel from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $59.00 to $68.00 in a research note on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Hexcel currently has an average rating of "Hold" and an average price target of $59.20.
About Hexcel
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Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates through two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.
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