First Trust Advisors LP Lowers Holdings in Hexcel Co. (NYSE:HXL)

First Trust Advisors LP lowered its stake in shares of Hexcel Co. (NYSE:HXL) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,880 shares of the aerospace company’s stock after selling 8,435 shares during the period. First Trust Advisors LP owned 0.15% of Hexcel worth $7,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Allworth Financial LP lifted its position in Hexcel by 1,069.8% during the fourth quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock valued at $42,000 after purchasing an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Hexcel during the fourth quarter worth $49,000. Manchester Capital Management LLC lifted its stake in Hexcel by 100.0% in the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 420 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Hexcel during the fourth quarter valued at approximately $57,000. Finally, Huntington National Bank lifted its stake in shares of Hexcel by 21.4% during the 4th quarter. Huntington National Bank now owns 1,159 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Trading Down 1.5 %

Shares of NYSE:HXL opened at $49.80 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20. The firm has a market capitalization of $4.00 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.72 and a beta of 1.08. The business’s 50-day moving average is $55.11 and its 200 day moving average is $60.56. Hexcel Co. has a 1 year low of $45.28 and a 1 year high of $73.58.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, April 21st. The aerospace company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.06). The company had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $482.18 million. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. During the same period in the previous year, the business earned $0.44 earnings per share. On average, research analysts predict that Hexcel Co. will post 2.14 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.37%. Hexcel’s payout ratio is currently 45.03%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HXL. BMO Capital Markets decreased their target price on Hexcel from $72.00 to $52.00 and set a “market perform” rating for the company in a research report on Wednesday, April 23rd. UBS Group reduced their price objective on Hexcel from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Barclays cut their price target on Hexcel from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Royal Bank of Canada dropped their target price on shares of Hexcel from $70.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, TD Cowen raised shares of Hexcel to a “hold” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.20.

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.