Federated Hermes Inc. Cuts Stock Position in Hexcel Co. (NYSE:HXL)

Federated Hermes Inc. trimmed its position in shares of Hexcel Co. (NYSE:HXL) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,181 shares of the aerospace company’s stock after selling 517 shares during the quarter. Federated Hermes Inc.’s holdings in Hexcel were worth $573,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HXL. Vanguard Group Inc. boosted its stake in shares of Hexcel by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,914,296 shares of the aerospace company’s stock valued at $576,556,000 after purchasing an additional 67,425 shares during the period. Earnest Partners LLC boosted its position in Hexcel by 4.0% in the 1st quarter. Earnest Partners LLC now owns 4,699,704 shares of the aerospace company’s stock valued at $342,373,000 after buying an additional 181,718 shares during the period. Sei Investments Co. grew its stake in shares of Hexcel by 6.7% in the first quarter. Sei Investments Co. now owns 1,318,541 shares of the aerospace company’s stock worth $96,056,000 after acquiring an additional 82,473 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Hexcel by 6.3% in the fourth quarter. Schroder Investment Management Group now owns 1,296,476 shares of the aerospace company’s stock valued at $95,615,000 after acquiring an additional 76,355 shares in the last quarter. Finally, Norges Bank purchased a new position in Hexcel in the fourth quarter valued at $66,597,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Hexcel Stock Up 1.8 %

Shares of NYSE HXL opened at $62.22 on Tuesday. The stock has a market cap of $5.17 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29. Hexcel Co. has a 52-week low of $58.54 and a 52-week high of $77.09. The business has a 50-day moving average price of $62.59 and a 200 day moving average price of $65.94. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51.

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

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio is currently 51.28%.

Wall Street Analysts Forecast Growth

HXL has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price target on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research report 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 on the stock in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating for the company in a report on Friday, June 28th. UBS Group decreased their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.54.

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.