AXS Investments LLC Buys Shares of 12,000 Hexcel Co. (NYSE:HXL)

AXS Investments LLC purchased a new position in Hexcel Co. (NYSE:HXL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,000 shares of the aerospace company’s stock, valued at approximately $912,000.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Hexcel by 1.2% in the 1st quarter. BlackRock Inc. now owns 9,171,181 shares of the aerospace company’s stock valued at $625,933,000 after acquiring an additional 112,122 shares during the period. Morgan Stanley raised its holdings in Hexcel by 838.6% in the fourth quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock worth $400,780,000 after purchasing an additional 6,084,592 shares in the last quarter. State Street Corp lifted its position in shares of Hexcel by 11.2% during the first quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock valued at $202,771,000 after buying an additional 344,711 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of Hexcel by 4.4% in the 1st quarter. Eaton Vance Management now owns 2,476,907 shares of the aerospace company’s stock valued at $147,301,000 after buying an additional 103,891 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Hexcel by 3.5% during the 1st quarter. Wellington Management Group LLP now owns 2,394,575 shares of the aerospace company’s stock worth $142,405,000 after acquiring an additional 80,765 shares in the last quarter. 94.71% of the stock is owned by hedge funds and other institutional investors.

Hexcel Trading Up 0.3 %

Shares of HXL stock traded up $0.20 during trading on Friday, hitting $66.02. 381,510 shares of the stock traded hands, compared to its average volume of 580,464. Hexcel Co. has a 52-week low of $55.59 and a 52-week high of $79.08. The firm has a market capitalization of $5.55 billion, a P/E ratio of 35.13, a price-to-earnings-growth ratio of 1.17 and a beta of 1.22. The firm’s fifty day moving average price is $65.53 and its 200-day moving average price is $70.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.03 and a quick ratio of 1.64.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). The company had revenue of $419.50 million for the quarter, compared to analyst estimates of $427.06 million. Hexcel had a net margin of 9.14% and a return on equity of 9.36%. Hexcel’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, research analysts forecast that Hexcel Co. will post 1.88 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Friday, November 3rd were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, November 2nd. Hexcel’s dividend payout ratio is currently 26.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HXL shares. Wolfe Research raised Hexcel from a “peer perform” rating to an “outperform” rating and set a $83.00 price target on the stock in a research report on Thursday, August 17th. Truist Financial lowered their price target on Hexcel from $73.00 to $71.00 in a research report on Wednesday, July 26th. Morgan Stanley cut their price objective on Hexcel from $71.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 25th. Vertical Research upgraded shares of Hexcel from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, October 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Hexcel in a report on Wednesday, September 27th. They issued a “hold” rating and a $70.00 price target for the company. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.33.

Hexcel 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.