Huntington National Bank Boosts Stock Position in Hexcel Co. (NYSE:HXL)

Huntington National Bank lifted its position in Hexcel Co. (NYSE:HXL) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 955 shares of the aerospace company’s stock after purchasing an additional 225 shares during the quarter. Huntington National Bank’s holdings in Hexcel were worth $59,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake 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 buying an additional 207,434 shares during the last quarter. Speece Thorson Capital Group Inc. lifted its holdings in Hexcel by 15.6% in the third quarter. Speece Thorson Capital Group Inc. now owns 244,873 shares of the aerospace company’s stock valued at $15,140,000 after acquiring an additional 32,960 shares during the period. Silvercrest Asset Management Group LLC boosted its position in Hexcel by 32.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock worth $5,897,000 after purchasing an additional 19,736 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Hexcel during the 1st quarter worth approximately $1,109,000. Finally, Capital World Investors increased its holdings in shares of Hexcel by 16.4% during the 1st quarter. Capital World Investors now owns 885,547 shares of the aerospace company’s stock valued at $64,512,000 after purchasing an additional 124,900 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Hexcel Stock Performance

Shares of HXL stock opened at $59.21 on Tuesday. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $61.09 and a 200-day simple moving average of $63.86. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30.

Hexcel (NYSE:HXL) last announced its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, equities analysts forecast that Hexcel Co. will post 2.02 EPS for the current year.

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors 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 1.01%. Hexcel’s dividend payout ratio is currently 45.80%.

Analysts Set New Price Targets

Several research firms recently commented on HXL. Wells Fargo & Company raised their price target on shares of Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. Morgan Stanley lowered their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Hexcel from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.54.

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.