Ingalls & Snyder LLC Sells 1,717 Shares of Hexcel Co. (NYSE:HXL)

Ingalls & Snyder LLC decreased its holdings in Hexcel Co. (NYSE:HXL) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 398,970 shares of the aerospace company’s stock after selling 1,717 shares during the period. Hexcel accounts for approximately 1.0% of Ingalls & Snyder LLC’s holdings, making the stock its 24th biggest holding. Ingalls & Snyder LLC’s holdings in Hexcel were worth $24,668,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HXL. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hexcel during the third quarter worth approximately $220,000. Holocene Advisors LP lifted its stake in shares of Hexcel by 347.1% during the third quarter. Holocene Advisors LP now owns 113,157 shares of the aerospace company’s stock worth $6,996,000 after buying an additional 87,849 shares during the period. Kestra Investment Management LLC acquired a new position in Hexcel during the third quarter valued at $270,000. True Wealth Design LLC acquired a new position in Hexcel during the third quarter valued at $30,000. Finally, Captrust Financial Advisors lifted its position in Hexcel by 54.5% during the third quarter. Captrust Financial Advisors now owns 24,998 shares of the aerospace company’s stock valued at $1,546,000 after purchasing an additional 8,821 shares during the period. Institutional investors own 95.47% of the company’s stock.

Hexcel Trading Down 0.5 %

Shares of HXL stock traded down $0.31 during trading hours on Tuesday, hitting $63.69. The company had a trading volume of 32,168 shares, compared to its average volume of 861,631. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The company’s fifty day moving average is $61.17 and its 200 day moving average is $63.20. The stock has a market capitalization of $5.16 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51.

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

Hexcel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. Hexcel’s dividend payout ratio is presently 45.80%.

Wall Street Analyst Weigh In

HXL has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, October 10th. UBS Group boosted their target price on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company upped their price objective on shares of Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two investment 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’s stock. According to MarketBeat.com, Hexcel currently has an average rating of “Hold” and a consensus price target of $70.58.

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.