DekaBank Deutsche Girozentrale Increases Holdings in Hexcel Co. (NYSE:HXL)

DekaBank Deutsche Girozentrale boosted its position in Hexcel Co. (NYSE:HXL) by 487.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,683 shares of the aerospace company’s stock after purchasing an additional 3,886 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Hexcel were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new stake in Hexcel in the first quarter valued at $36,000. Principal Securities Inc. purchased a new position in Hexcel during the 4th quarter valued at about $51,000. Centerpoint Advisors LLC raised its position in Hexcel by 44.6% during the first 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 last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Hexcel in the first quarter valued at about $54,000. Finally, GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 276 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HXL shares. UBS Group reduced their target price on Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Truist Financial decreased their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Stifel Nicolaus cut 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. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, Morgan Stanley cut their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $74.54.

Hexcel Stock Performance

NYSE:HXL opened at $61.05 on Friday. The company has a market cap of $5.07 billion, a P/E ratio of 52.18, a P/E/G ratio of 1.33 and a beta of 1.29. The firm’s 50 day moving average is $62.81 and its two-hundred day moving average is $66.28. Hexcel Co. has a fifty-two week low of $58.54 and a fifty-two week high of $77.09. 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 issued its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same period last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Hexcel Co. will post 2.08 EPS for the current year.

Hexcel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors 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 yield of 0.98%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio (DPR) 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.