Baird Financial Group Inc. Boosts Position in Hexcel Co. (NYSE:HXL)

Baird Financial Group Inc. lifted its stake in shares of Hexcel Co. (NYSE:HXLGet Rating) by 73.6% during the 2nd quarter, Holdings Channel reports. The fund owned 17,438 shares of the aerospace company’s stock after buying an additional 7,394 shares during the quarter. Baird Financial Group Inc.’s holdings in Hexcel were worth $913,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Hexcel by 1.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,247 shares of the aerospace company’s stock valued at $1,026,000 after buying an additional 262 shares during the period. Texas Permanent School Fund raised its holdings in Hexcel by 2.1% in the 2nd quarter. Texas Permanent School Fund now owns 60,750 shares of the aerospace company’s stock valued at $3,178,000 after buying an additional 1,273 shares during the period. Pinebridge Investments L.P. raised its holdings in Hexcel by 487.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 587 shares of the aerospace company’s stock valued at $31,000 after buying an additional 487 shares during the period. Fifth Third Bancorp raised its holdings in Hexcel by 140.3% in the 2nd quarter. Fifth Third Bancorp now owns 40,672 shares of the aerospace company’s stock valued at $2,128,000 after buying an additional 23,743 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Hexcel by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 589,849 shares of the aerospace company’s stock valued at $35,078,000 after buying an additional 6,481 shares during the period. Hedge funds and other institutional investors own 97.56% of the company’s stock.

Hexcel Stock Performance

Shares of Hexcel stock opened at $58.71 on Friday. Hexcel Co. has a one year low of $46.77 and a one year high of $65.82. The company has a market cap of $4.94 billion, a PE ratio of 46.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.35 and a current ratio of 2.42. The business has a 50-day simple moving average of $56.01 and a 200-day simple moving average of $56.42.

Hexcel (NYSE:HXLGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The aerospace company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. Hexcel had a return on equity of 6.01% and a net margin of 7.17%. The business had revenue of $364.70 million during the quarter, compared to the consensus estimate of $398.38 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Hexcel Co. will post 1.2 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, November 3rd. Hexcel’s dividend payout ratio (DPR) is 31.50%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial lowered shares of Hexcel from a “buy” rating to a “hold” rating and reduced their price objective for the company from $71.00 to $52.00 in a report on Wednesday, October 12th. Morgan Stanley raised 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 report on Thursday, September 8th. StockNews.com began coverage on Hexcel in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Vertical Research lifted their target price on Hexcel to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, Wolfe Research began coverage on Hexcel in a research report on Monday, October 10th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.44.

Insider Activity at Hexcel

In related news, insider Thierry Merlot sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $60.83, for a total value of $152,075.00. Following the completion of the transaction, the insider now directly owns 34,011 shares of the company’s stock, valued at $2,068,889.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.39% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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