FORA Capital LLC Purchases New Holdings in Hexcel Co. (NYSE:HXL)

FORA Capital LLC acquired a new position in shares of Hexcel Co. (NYSE:HXL) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 11,958 shares of the aerospace company’s stock, valued at approximately $739,000.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Hexcel in the 3rd quarter worth approximately $56,000. First Horizon Advisors Inc. increased its holdings in shares of Hexcel by 53.8% in the third 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 during the last quarter. Huntington National Bank lifted its position in 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 buying an additional 225 shares in the last quarter. Eastern Bank acquired a new position in Hexcel during the third quarter worth $62,000. Finally, GAMMA Investing LLC grew its holdings in Hexcel by 34.8% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

HXL has been the topic of several recent analyst reports. Truist Financial decreased 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. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. UBS Group raised their price target on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.58.

Hexcel Stock Performance

Shares of NYSE:HXL opened at $62.66 on Friday. The company has a market cap of $5.08 billion, a P/E ratio of 47.83, a PEG ratio of 1.94 and a beta of 1.30. Hexcel Co. has a one year low of $57.50 and a one year high of $77.09. The business’s 50-day simple moving average is $61.09 and its 200 day simple moving average is $63.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76.

Hexcel (NYSE:HXL) last announced 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. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The company had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Hexcel Co. will post 2.02 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a dividend of $0.15 per share. The ex-dividend date was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Hexcel’s dividend payout ratio (DPR) is 45.80%.

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.