Raymond James & Associates Purchases 12,704 Shares of Hexcel Co. (NYSE:HXL)

Raymond James & Associates increased its holdings in Hexcel Co. (NYSE:HXL) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,521 shares of the aerospace company’s stock after purchasing an additional 12,704 shares during the quarter. Raymond James & Associates owned approximately 0.13% of Hexcel worth $6,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new stake in shares of Hexcel in the 1st quarter worth approximately $36,000. Centerpoint Advisors LLC boosted its holdings in Hexcel by 44.6% in the first quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 223 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Hexcel by 34.8% in the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after acquiring an additional 276 shares in the last quarter. Headlands Technologies LLC purchased a new position in Hexcel during the 1st quarter valued at $119,000. Finally, 1620 Investment Advisors Inc. bought a new position in Hexcel in the 2nd quarter worth $128,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Stock Performance

Shares of HXL stock opened at $60.51 on Thursday. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 46.19, a price-to-earnings-growth ratio of 1.48 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 2.76. Hexcel Co. has a one year low of $57.50 and a one year high of $77.09. The company’s 50-day moving average is $61.60 and its 200 day moving average is $64.14.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 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 firm had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts expect that Hexcel Co. will post 2.07 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, November 1st. Hexcel’s dividend payout ratio is currently 45.80%.

Wall Street Analysts Forecast Growth

HXL has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company upped their target price on Hexcel from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research note on Monday. Truist Financial reduced their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research 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 issued a buy rating to the stock. According to MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and a consensus price target of $71.46.

Hexcel 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.