Amalgamated Bank Reduces Position in Hexcel Co. (NYSE:HXL)

Amalgamated Bank decreased its position in Hexcel Co. (NYSE:HXL) by 5.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 54,989 shares of the aerospace company’s stock after selling 3,024 shares during the period. Amalgamated Bank owned about 0.07% of Hexcel worth $4,055,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Xponance Inc. grew its position in shares of Hexcel by 1.8% in the 4th quarter. Xponance Inc. now owns 10,251 shares of the aerospace company’s stock worth $756,000 after buying an additional 178 shares during the last quarter. CENTRAL TRUST Co increased its position in Hexcel by 68.1% during the 3rd quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 179 shares during the period. Treasurer of the State of North Carolina raised its holdings in Hexcel by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 37,007 shares of the aerospace company’s stock worth $2,411,000 after purchasing an additional 180 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Hexcel by 0.3% in the 4th quarter. New York State Teachers Retirement System now owns 62,044 shares of the aerospace company’s stock worth $4,576,000 after purchasing an additional 200 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Hexcel by 2.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,989 shares of the aerospace company’s stock valued at $663,000 after purchasing an additional 215 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HXL has been the subject of a number of research reports. Bank of America reissued an “underperform” rating and issued a $65.00 price target (down from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Truist Financial decreased their target price on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Morgan Stanley lowered Hexcel from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $70.00 to $66.00 in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their price objective on Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $80.00 target price on shares of Hexcel in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Hexcel has a consensus rating of “Hold” and an average price target of $77.57.

Insider Activity at Hexcel

In other Hexcel news, CEO Nick L. Stanage bought 15,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was acquired at an average price of $64.29 per share, with a total value of $964,350.00. Following the transaction, the chief executive officer now owns 392,446 shares in the company, valued at $25,230,353.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Nick L. Stanage bought 15,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was acquired at an average price of $64.29 per share, with a total value of $964,350.00. Following the transaction, the chief executive officer now owns 392,446 shares in the company, valued at approximately $25,230,353.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thierry Merlot sold 4,500 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. Insiders have acquired 43,400 shares of company stock valued at $2,820,322 over the last ninety days. Insiders own 1.85% of the company’s stock.

Hexcel Stock Performance

Shares of HXL stock opened at $72.65 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.51 and a current ratio of 2.74. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 62.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25. Hexcel Co. has a one year low of $58.81 and a one year high of $79.08. The company’s 50-day moving average is $69.53 and its 200 day moving average is $69.52.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The firm had revenue of $472.30 million for the quarter, compared to analysts’ expectations of $468.93 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts expect that Hexcel Co. will post 2.22 EPS for the current fiscal year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel’s payout ratio is currently 51.28%.

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.