Two Sigma Advisers LP Cuts Position in Hexcel Co. (NYSE:HXL)

Two Sigma Advisers LP reduced its holdings in shares of Hexcel Co. (NYSE:HXL) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,500 shares of the aerospace company’s stock after selling 3,000 shares during the period. Two Sigma Advisers LP owned about 0.46% of Hexcel worth $22,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stifel Financial Corp increased its stake in shares of Hexcel by 64.1% in the third quarter. Stifel Financial Corp now owns 280,148 shares of the aerospace company’s stock worth $17,322,000 after buying an additional 109,450 shares during the period. Quantinno Capital Management LP purchased a new stake in Hexcel in the third quarter worth $299,000. Jacobs Levy Equity Management Inc. purchased a new stake in Hexcel in the third quarter worth $220,000. Holocene Advisors LP boosted its stake in shares of Hexcel by 347.1% during the 3rd quarter. Holocene Advisors LP now owns 113,157 shares of the aerospace company’s stock valued at $6,996,000 after purchasing an additional 87,849 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Hexcel during the 3rd quarter valued at approximately $270,000. Institutional investors own 95.47% of the company’s stock.

Hexcel Price Performance

HXL stock 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. The company’s fifty day moving average price is $61.37 and its 200-day moving average price is $62.99. Hexcel Co. has a one year low of $57.50 and a one year high of $77.09. The company has a market capitalization of $5.07 billion, a PE ratio of 47.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.30.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. On average, equities analysts anticipate that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, November 1st. Hexcel’s payout ratio is 45.80%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. 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. Truist Financial reduced their target price on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. BMO Capital Markets decreased their price objective on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. UBS Group upped their price objective on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.58.

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.