Oppenheimer Asset Management Inc. Has $2.56 Million Holdings in Hexcel Co. (NYSE:HXL)

Oppenheimer Asset Management Inc. lifted its holdings in Hexcel Co. (NYSE:HXL) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,004 shares of the aerospace company’s stock after purchasing an additional 1,184 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Hexcel were worth $2,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Hexcel by 151.5% in 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. Trexquant Investment LP acquired a new position in Hexcel during the 4th quarter worth $2,185,000. Evoke Wealth LLC acquired a new position in Hexcel during the 4th quarter worth $2,036,000. Silvercrest Asset Management Group LLC lifted its position in Hexcel by 32.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock worth $5,897,000 after acquiring an additional 19,736 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Hexcel during the 1st quarter worth $1,109,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank of Canada lowered shares of 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 report on Wednesday, August 14th. Truist Financial reduced their target price on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Stifel Nicolaus reduced their target price on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. BMO Capital Markets reduced their target price on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.54.

Hexcel Price Performance

Shares of HXL stock opened at $60.69 on Wednesday. Hexcel Co. has a 52-week low of $58.54 and a 52-week high of $77.09. The stock has a market cap of $5.04 billion, a PE ratio of 51.87, a PEG ratio of 1.33 and a beta of 1.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. The firm’s 50 day moving average price is $63.05 and its two-hundred day moving average price is $66.46.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The firm had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $484.26 million. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts forecast that Hexcel Co. will post 2.08 EPS for the current year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. Hexcel’s dividend payout ratio is 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.