Hexcel Co. (NYSE:HXL) Short Interest Down 11.0% in August

Hexcel Co. (NYSE:HXL) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,290,000 shares, a drop of 11.0% from the August 15th total of 1,450,000 shares. Based on an average daily trading volume, of 863,800 shares, the short-interest ratio is presently 1.5 days. Currently, 1.6% of the company’s shares are sold short.

Hexcel Stock Performance

Shares of HXL stock traded up $0.31 on Wednesday, reaching $61.01. The stock had a trading volume of 243,261 shares, compared to its average volume of 887,196. Hexcel has a 12 month low of $58.54 and a 12 month high of $77.09. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 51.87, a P/E/G ratio of 1.33 and a beta of 1.29. The firm’s 50-day moving average is $63.05 and its two-hundred day moving average is $66.46. 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 released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, research analysts expect that Hexcel will post 2.08 EPS for the current fiscal year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. Hexcel’s dividend payout ratio is currently 51.28%.

Analyst Ratings Changes

HXL has been the subject of a number of analyst reports. Royal Bank of Canada lowered 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 report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Friday, June 28th. UBS Group lowered their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. 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 research note on Tuesday, July 2nd. Finally, BMO Capital Markets decreased their price objective on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Hexcel has an average rating of “Hold” and an average target price of $74.54.

Institutional Investors Weigh In On Hexcel

Several hedge funds have recently bought and sold shares of HXL. Fidelis Capital Partners LLC acquired a new position in Hexcel in the 1st quarter valued at $36,000. Principal Securities Inc. acquired a new stake in Hexcel in the 4th quarter worth about $51,000. Centerpoint Advisors LLC boosted its holdings in Hexcel by 44.6% in the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Hexcel during the 1st quarter worth approximately $54,000. Finally, GAMMA Investing LLC increased its holdings in shares of Hexcel by 34.8% during the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after purchasing an additional 276 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.