Victory Capital Management Inc. Lowers Stake in Hexcel Co. (NYSE:HXL)

Victory Capital Management Inc. lowered its stake in shares of Hexcel Co. (NYSE:HXL) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,741 shares of the aerospace company’s stock after selling 1,877 shares during the quarter. Victory Capital Management Inc.’s holdings in Hexcel were worth $973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Hexcel by 151.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock valued at $25,086,000 after purchasing an additional 207,434 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Hexcel by 215.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after purchasing an additional 590,975 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Hexcel during the 2nd quarter valued at $250,000. Susquehanna Fundamental Investments LLC grew its holdings in shares of Hexcel by 232.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 98,122 shares of the aerospace company’s stock valued at $6,128,000 after purchasing an additional 68,622 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Hexcel by 25.3% during the 2nd quarter. Quest Partners LLC now owns 4,454 shares of the aerospace company’s stock valued at $278,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Trading Up 0.7 %

Shares of NYSE HXL opened at $62.66 on Thursday. Hexcel Co. has a 1 year low of $57.50 and a 1 year high of $77.09. The stock has a market cap of $5.08 billion, a P/E ratio of 47.75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The firm has a 50-day moving average of $61.05 and a 200 day moving average of $63.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same period last year, the company posted $0.38 EPS. Hexcel’s revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts expect that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.96%. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HXL shares. BMO Capital Markets cut their price target on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday, October 28th. Truist Financial cut their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Vertical Research lowered shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a report on Thursday, October 10th. UBS Group raised their price target on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company raised their price target on shares of Hexcel from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.31.

Hexcel Company 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.