Charles Schwab Investment Management Inc. Trims Stock Position in Hexcel Corporation (NYSE:HXL)

Charles Schwab Investment Management Inc. lowered its stake in shares of Hexcel Corporation (NYSE:HXL) by 1.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,067,346 shares of the aerospace company’s stock after selling 17,514 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Hexcel were worth $58,448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HXL. Franklin Resources Inc. acquired a new stake in shares of Hexcel during the 4th quarter valued at about $436,000. Raymond James Financial Inc. acquired a new stake in shares of Hexcel during the 4th quarter valued at about $7,092,000. Treasurer of the State of North Carolina grew its position in shares of Hexcel by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 35,779 shares of the aerospace company’s stock valued at $2,243,000 after acquiring an additional 220 shares during the period. Sterling Capital Management LLC grew its position in shares of Hexcel by 47.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,281 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 1,709 shares during the period. Finally, Barclays PLC grew its position in shares of Hexcel by 219.3% during the 4th quarter. Barclays PLC now owns 223,607 shares of the aerospace company’s stock valued at $14,019,000 after acquiring an additional 153,584 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HXL has been the topic of a number of analyst reports. Wall Street Zen cut Hexcel from a “buy” rating to a “hold” rating in a research report on Sunday, April 27th. Truist Financial dropped their target price on Hexcel from $73.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley boosted their price objective on Hexcel from $50.00 to $55.00 and gave the stock an “underweight” rating in a research note on Thursday, July 17th. Wells Fargo & Company cut their price objective on Hexcel from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $70.00 price objective (up from $65.00) on shares of Hexcel in a research note on Monday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and an average target price of $63.33.

Hexcel Trading Down 1.0%

Shares of Hexcel stock opened at $61.86 on Friday. The stock has a market cap of $4.92 billion, a P/E ratio of 57.28, a P/E/G ratio of 2.07 and a beta of 1.36. The stock’s 50 day simple moving average is $58.70 and its 200-day simple moving average is $57.06. Hexcel Corporation has a 1-year low of $45.28 and a 1-year high of $71.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.69 and a quick ratio of 1.50.

Hexcel (NYSE:HXL) last issued its earnings results on Thursday, July 24th. The aerospace company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $489.90 million for the quarter, compared to analysts’ expectations of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Analysts predict that Hexcel Corporation will post 2.14 EPS for the current fiscal year.

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 8th. Hexcel’s payout ratio is currently 62.96%.

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.