National Bank of Canada FI Sells 18,470 Shares of Hexcel Co. (NYSE:HXL)

National Bank of Canada FI cut its stake in Hexcel Co. (NYSE:HXL) by 15.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,796 shares of the aerospace company’s stock after selling 18,470 shares during the period. National Bank of Canada FI owned about 0.12% of Hexcel worth $6,108,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HXL. Earnest Partners LLC boosted its holdings in shares of Hexcel by 2.9% in the 2nd quarter. Earnest Partners LLC now owns 4,835,994 shares of the aerospace company’s stock worth $302,008,000 after purchasing an additional 136,290 shares in the last quarter. AQR Capital Management LLC boosted its stake in Hexcel by 277.9% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in Hexcel by 36.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock valued at $98,966,000 after acquiring an additional 425,402 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Hexcel by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,406,287 shares of the aerospace company’s stock valued at $87,829,000 after acquiring an additional 103,679 shares during the last quarter. Finally, Copeland Capital Management LLC raised its stake in shares of Hexcel by 12.5% during the third quarter. Copeland Capital Management LLC now owns 1,161,415 shares of the aerospace company’s stock worth $71,810,000 after acquiring an additional 129,335 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HXL. Truist Financial reduced their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on Hexcel from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.83.

Hexcel Stock Up 0.8 %

Shares of Hexcel stock opened at $63.89 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09. The company has a market cap of $5.18 billion, a P/E ratio of 48.77, a PEG ratio of 1.94 and a beta of 1.30. The company’s fifty day simple moving average is $61.58 and its two-hundred day simple moving average is $62.85.

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

Hexcel Announces Dividend

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

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.