Quarry LP Buys 2,847 Shares of Hexcel Co. (NYSE:HXL)

Quarry LP grew its stake in shares of Hexcel Co. (NYSE:HXL) by 438.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,496 shares of the aerospace company’s stock after buying an additional 2,847 shares during the quarter. Quarry LP’s holdings in Hexcel were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HXL. Stifel Financial Corp grew its stake in shares of Hexcel by 12.9% during the fourth quarter. Stifel Financial Corp now owns 161,401 shares of the aerospace company’s stock worth $11,904,000 after buying an additional 18,393 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Hexcel by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 37,377 shares of the aerospace company’s stock worth $2,757,000 after buying an additional 370 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of Hexcel by 88,200.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,649 shares of the aerospace company’s stock worth $195,000 after buying an additional 2,646 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Hexcel during the fourth quarter worth $442,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Hexcel by 7.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 453,176 shares of the aerospace company’s stock worth $33,422,000 after buying an additional 31,016 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HXL. Truist Financial cut their price target 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. Royal Bank of Canada lowered shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Morgan Stanley cut their price target on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Stifel Nicolaus cut their price target 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. Finally, UBS Group cut their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.46.

Hexcel Price Performance

Shares of NYSE HXL opened at $61.83 on Tuesday. The firm’s 50-day moving average price is $62.21 and its 200-day moving average price is $65.53. Hexcel Co. has a 1-year low of $58.54 and a 1-year high of $77.09. The firm has a market capitalization of $5.14 billion, a P/E ratio of 52.85, a P/E/G ratio of 1.37 and a beta of 1.29. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last announced its quarterly earnings data 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. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Hexcel Co. will post 2.08 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. Hexcel’s dividend payout ratio is currently 51.28%.

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.