Grandfield & Dodd LLC Increases Stock Holdings in Hexcel Co. (NYSE:HXL)

Grandfield & Dodd LLC raised its position in Hexcel Co. (NYSE:HXL) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,247 shares of the aerospace company’s stock after acquiring an additional 697 shares during the quarter. Grandfield & Dodd LLC owned 0.40% of Hexcel worth $20,110,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Hexcel in the third quarter worth $56,000. First Horizon Advisors Inc. raised its stake in shares of Hexcel by 53.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 326 shares in the last quarter. Huntington National Bank lifted its position in shares of Hexcel by 30.8% during the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after purchasing an additional 225 shares during the last quarter. Eastern Bank acquired a new position in Hexcel in the third quarter worth about $62,000. Finally, GAMMA Investing LLC increased its holdings in Hexcel by 34.8% in the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Stock Performance

Shares of Hexcel stock opened at $58.77 on Wednesday. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. The stock has a market cap of $4.76 billion, a PE ratio of 44.86, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. The business has a fifty day simple moving average of $61.05 and a 200-day simple moving average of $63.79.

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

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is currently 45.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HXL shares. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price objective 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Hexcel from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Finally, Truist Financial lowered their price objective on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hexcel currently has an average rating of “Hold” and a consensus target price of $71.54.

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.