Hexcel Co. (NYSE:HXL) Stake Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Hexcel Co. (NYSE:HXL) by 63.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,398 shares of the aerospace company’s stock after selling 79,844 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Hexcel worth $3,307,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cetera Trust Company N.A acquired a new stake in shares of Hexcel during the fourth quarter valued at approximately $30,000. Principal Securities Inc. acquired a new stake in shares of Hexcel in the fourth quarter worth $51,000. GAMMA Investing LLC purchased a new position in shares of Hexcel during the fourth quarter valued at $53,000. Arcadia Investment Management Corp MI raised its position in Hexcel by 41.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 908 shares of the aerospace company’s stock valued at $67,000 after buying an additional 267 shares during the period. Finally, Psagot Value Holdings Ltd. Israel lifted its stake in Hexcel by 775.2% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 954 shares of the aerospace company’s stock worth $71,000 after acquiring an additional 845 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hexcel

In related news, Director Catherine A. Suever purchased 400 shares of the stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $68.33 per share, for a total transaction of $27,332.00. Following the completion of the transaction, the director now directly owns 15,748 shares of the company’s stock, valued at approximately $1,076,060.84. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hexcel news, Director Jeffrey C. Campbell purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $64.13 per share, for a total transaction of $641,300.00. Following the transaction, the director now directly owns 17,803 shares in the company, valued at $1,141,706.39. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Catherine A. Suever acquired 400 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $68.33 per share, with a total value of $27,332.00. Following the transaction, the director now owns 15,748 shares in the company, valued at approximately $1,076,060.84. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,400 shares of company stock valued at $2,820,322 over the last quarter. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HXL. Northcoast Research downgraded shares of Hexcel from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upgraded Hexcel from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $81.00 to $95.00 in a report on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price objective on shares of Hexcel in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group lifted their price objective on shares of Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.86.

Hexcel Stock Performance

HXL stock traded up $0.92 on Tuesday, reaching $63.41. 42,495 shares of the company were exchanged, compared to its average volume of 934,237. The firm has a market capitalization of $5.27 billion, a PE ratio of 53.84, a PEG ratio of 1.17 and a beta of 1.28. Hexcel Co. has a 12 month low of $58.81 and a 12 month high of $79.08. The stock’s fifty day moving average price is $67.23 and its 200 day moving average price is $69.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.51.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The business had revenue of $472.30 million during the quarter, compared to analyst estimates of $468.93 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts anticipate that Hexcel Co. will post 2.21 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, May 3rd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, May 2nd. Hexcel’s dividend payout ratio (DPR) is presently 51.28%.

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.