Connable Office Inc. Sells 407 Shares of Hexcel Co. (NYSE:HXL)

Connable Office Inc. lessened its position in Hexcel Co. (NYSE:HXL) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,707 shares of the aerospace company’s stock after selling 407 shares during the quarter. Connable Office Inc.’s holdings in Hexcel were worth $544,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of HXL. Private Advisor Group LLC bought a new stake in shares of Hexcel in the fourth quarter worth $313,000. Charles Schwab Investment Management Inc. lifted its position in Hexcel by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 794,209 shares of the aerospace company’s stock worth $58,573,000 after buying an additional 11,190 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Hexcel during the 4th quarter worth about $51,000. BNP Paribas Financial Markets boosted its stake in shares of Hexcel by 102.9% during the 4th quarter. BNP Paribas Financial Markets now owns 70,179 shares of the aerospace company’s stock worth $5,176,000 after buying an additional 35,584 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hexcel by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,353,980 shares of the aerospace company’s stock valued at $99,857,000 after acquiring an additional 59,976 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on HXL. BMO Capital Markets reduced their price target on Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday, July 19th. Truist Financial decreased their target price on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. UBS Group dropped their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Royal Bank of Canada lowered shares of Hexcel from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, Morgan Stanley cut their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.54.

Hexcel Price Performance

Hexcel stock opened at $59.34 on Monday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 1.30 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 Co. has a 12 month low of $58.54 and a 12 month high of $77.09. The stock’s 50 day moving average is $63.45 and its 200-day moving average is $67.03.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same period in the prior year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts expect that Hexcel Co. will post 2.08 EPS for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a $0.15 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.01%. Hexcel’s payout ratio is 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.