Pier Capital LLC Boosts Stake in Hexcel Co. (NYSE:HXL)

Pier Capital LLC raised its position in Hexcel Co. (NYSE:HXL) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 117,353 shares of the aerospace company’s stock after buying an additional 554 shares during the quarter. Pier Capital LLC’s holdings in Hexcel were worth $7,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HXL. Summit Financial LLC raised its holdings in shares of Hexcel by 2.9% in the 2nd quarter. Summit Financial LLC now owns 5,357 shares of the aerospace company’s stock valued at $335,000 after buying an additional 153 shares during the period. Insigneo Advisory Services LLC grew its position in Hexcel by 3.7% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,859 shares of the aerospace company’s stock valued at $300,000 after acquiring an additional 172 shares in the last quarter. Huntington National Bank grew its position in Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 225 shares in the last quarter. NBW Capital LLC increased its stake in Hexcel by 1.1% during the second quarter. NBW Capital LLC now owns 27,246 shares of the aerospace company’s stock worth $1,702,000 after purchasing an additional 302 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of Hexcel by 0.6% during the second quarter. Fifth Third Bancorp now owns 52,574 shares of the aerospace company’s stock worth $3,283,000 after purchasing an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Trading Down 0.3 %

HXL opened at $62.55 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. Hexcel Co. has a one year low of $57.50 and a one year high of $77.09. The company has a market cap of $5.07 billion, a P/E ratio of 47.75, a PEG ratio of 2.02 and a beta of 1.30. The business’s 50-day simple moving average is $61.37 and its 200-day simple moving average is $62.99.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, equities research analysts expect that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.96%. Hexcel’s dividend payout ratio is currently 45.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Truist Financial cut their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their target price on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Royal Bank of Canada cut Hexcel from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Two 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.58.

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.