Principal Financial Group Inc. Increases Stock Position in Hexcel Co. (NYSE:HXL)

Principal Financial Group Inc. raised its position in shares of Hexcel Co. (NYSE:HXLGet Rating) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 330,879 shares of the aerospace company’s stock after buying an additional 45,613 shares during the quarter. Principal Financial Group Inc.’s holdings in Hexcel were worth $17,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HXL. Pinebridge Investments L.P. lifted its position in Hexcel by 487.0% during the second 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. Oliver Lagore Vanvalin Investment Group purchased a new position in Hexcel during the first quarter valued at $59,000. First Horizon Advisors Inc. raised its position in shares of Hexcel by 6,951.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,904 shares of the aerospace company’s stock worth $99,000 after purchasing an additional 1,877 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Hexcel in the 1st quarter worth about $101,000. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Hexcel in the 2nd quarter worth about $116,000. Hedge funds and other institutional investors own 97.56% of the company’s stock.

Wall Street Analysts Forecast Growth

HXL has been the subject of several recent analyst reports. StockNews.com initiated coverage on Hexcel in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Vertical Research lifted their price target on Hexcel to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Truist Financial lowered Hexcel from a “buy” rating to a “hold” rating and lowered their price target for the stock from $71.00 to $52.00 in a research report on Wednesday, October 12th. BMO Capital Markets lowered their price target on Hexcel from $66.00 to $61.00 and set a “market perform” rating for the company in a research report on Tuesday, November 1st. 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hexcel presently has an average rating of “Hold” and a consensus price target of $58.44.

Hexcel Price Performance

NYSE HXL opened at $60.68 on Wednesday. Hexcel Co. has a one year low of $46.77 and a one year high of $65.82. The stock has a 50-day moving average of $55.99 and a 200 day moving average of $56.44. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 47.78 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.

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

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.66%. Hexcel’s dividend payout ratio is currently 31.50%.

Hexcel Profile

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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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