Hexcel Co. (NYSE:HXL) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in shares of Hexcel Co. (NYSE:HXL) by 14.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,266 shares of the aerospace company’s stock after purchasing an additional 14,719 shares during the quarter. National Bank of Canada FI owned approximately 0.14% of Hexcel worth $7,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HXL. Fidelis Capital Partners LLC purchased a new position in shares of Hexcel during the 1st quarter worth $36,000. Principal Securities Inc. purchased a new position in shares of Hexcel during the 4th quarter worth $51,000. Centerpoint Advisors LLC raised its holdings in shares of Hexcel by 44.6% during the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Hexcel during the 1st quarter worth $54,000. Finally, GAMMA Investing LLC raised its holdings in shares of Hexcel by 34.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HXL. UBS Group reduced their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. BMO Capital Markets reduced their price target on Hexcel from $73.00 to $71.00 and set a “market perform” rating on the stock in a report on Friday, July 19th. Stifel Nicolaus reduced their price objective on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Finally, Truist Financial reduced their price objective on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.54.

Hexcel Stock Performance

NYSE HXL opened at $60.49 on Tuesday. The company has a market cap of $5.03 billion, a P/E ratio of 51.70, a P/E/G ratio of 1.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. The stock has a 50-day moving average of $63.41 and a two-hundred day moving average of $66.94. Hexcel Co. has a 1-year low of $58.54 and a 1-year high of $77.09.

Hexcel (NYSE:HXL) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $500.40 million during the quarter, compared to the consensus estimate of $484.26 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. Hexcel’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. As a group, analysts anticipate that Hexcel Co. will post 2.08 EPS for the current year.

Hexcel Dividend Announcement

The business also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio is presently 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.