Hexcel Co. (NYSE:HXL) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of Hexcel Co. (NYSE:HXL) by 25.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 903,167 shares of the aerospace company’s stock after selling 308,760 shares during the quarter. JPMorgan Chase & Co. owned about 1.12% of Hexcel worth $55,843,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC grew its stake in Hexcel by 277.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock worth $105,874,000 after buying an additional 1,246,765 shares during the last quarter. Millennium Management LLC grew its position in shares of Hexcel by 307.1% during the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock worth $67,421,000 after acquiring an additional 814,402 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Hexcel by 215.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock worth $54,034,000 after acquiring an additional 590,975 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Hexcel by 36.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock valued at $98,966,000 after purchasing an additional 425,402 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in Hexcel by 34.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 973,352 shares of the aerospace company’s stock valued at $60,182,000 after purchasing an additional 251,062 shares during the period. Institutional investors own 95.47% of the company’s stock.

Hexcel Price Performance

NYSE HXL opened at $63.02 on Friday. Hexcel Co. has a 1 year low of $57.50 and a 1 year high of $77.09. The business’s fifty day moving average is $62.04 and its two-hundred day moving average is $62.42. The stock has a market capitalization of $5.10 billion, a P/E ratio of 48.11, a P/E/G ratio of 1.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76.

Hexcel (NYSE:HXL) last announced its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The company had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Hexcel’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Hexcel Co. will post 2.02 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is currently 45.80%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets cut their target price on Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Monday, October 28th. TD Cowen raised Hexcel to a “hold” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Finally, UBS Group upped their price objective on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.33.

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.