Harel Insurance Investments & Financial Services Ltd. Boosts Stake in Hexcel Co. (NYSE:HXL)

Harel Insurance Investments & Financial Services Ltd. grew its position in Hexcel Co. (NYSE:HXL) by 344.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,324 shares of the aerospace company’s stock after buying an additional 2,576 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Hexcel were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cetera Trust Company N.A acquired a new stake in shares of Hexcel in the fourth quarter valued at $30,000. Fidelis Capital Partners LLC acquired a new position in Hexcel during the 1st quarter worth $36,000. Principal Securities Inc. acquired a new position in Hexcel during the 4th quarter worth $51,000. GAMMA Investing LLC acquired a new position in shares of Hexcel during the 4th quarter worth about $53,000. Finally, Centerpoint Advisors LLC boosted its position in shares of Hexcel by 44.6% during the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 223 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HXL shares. Wells Fargo & Company raised Hexcel from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $81.00 to $95.00 in a report on Wednesday, May 8th. Morgan Stanley cut their target price on Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Truist Financial cut their target price on Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, UBS Group lowered their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.54.

Hexcel Stock Down 1.4 %

NYSE:HXL traded down $0.86 during mid-day trading on Tuesday, hitting $62.01. The company had a trading volume of 118,320 shares, compared to its average volume of 917,048. The business has a fifty day simple moving average of $63.74 and a 200-day simple moving average of $67.95. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 53.40, a PEG ratio of 1.40 and a beta of 1.28. Hexcel Co. has a 1 year low of $58.81 and a 1 year high of $77.09.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $500.40 million during the quarter, compared to the consensus estimate of $484.26 million. During the same period last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts forecast that Hexcel Co. will post 2.09 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. Hexcel’s dividend payout ratio (DPR) is presently 51.28%.

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.