Y Intercept Hong Kong Ltd Sells 2,813 Shares of Hexcel Co. (NYSE:HXL)

Y Intercept Hong Kong Ltd cut its position in Hexcel Co. (NYSE:HXL) by 17.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,888 shares of the aerospace company’s stock after selling 2,813 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Hexcel were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Hexcel by 259.8% during the 2nd quarter. SG Americas Securities LLC now owns 29,279 shares of the aerospace company’s stock worth $1,828,000 after acquiring an additional 21,141 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Hexcel by 46.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,215 shares of the aerospace company’s stock worth $1,075,000 after purchasing an additional 5,430 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Hexcel by 4.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,187 shares of the aerospace company’s stock valued at $1,386,000 after purchasing an additional 895 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Hexcel by 32.2% in the 2nd quarter. Blue Trust Inc. now owns 4,820 shares of the aerospace company’s stock worth $301,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Hexcel during the 2nd quarter worth $250,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on HXL. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Vertical Research lowered shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Thursday, October 10th. Truist Financial dropped their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets decreased their price target 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. Finally, UBS Group boosted their price objective on shares of Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.83.

Hexcel Stock Performance

NYSE HXL opened at $63.77 on Friday. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. The firm has a market capitalization of $5.17 billion, a P/E ratio of 48.68, a PEG ratio of 1.96 and a beta of 1.30. The stock has a 50-day simple moving average of $61.65 and a two-hundred day simple moving average of $62.81.

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 analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. Hexcel’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. On average, equities analysts forecast that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.94%. Hexcel’s dividend 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.