RiverPark Advisors LLC Boosts Stock Position in Hexcel Co. (NYSE:HXL)

RiverPark Advisors LLC grew its stake in shares of Hexcel Co. (NYSE:HXL) by 26.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,693 shares of the aerospace company’s stock after buying an additional 1,381 shares during the period. RiverPark Advisors LLC’s holdings in Hexcel were worth $414,000 at the end of the most recent reporting period.

Other large investors have also recently 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. Huntington National Bank lifted its holdings in Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after purchasing an additional 225 shares in the last quarter. Eastern Bank purchased a new position in Hexcel in the 3rd quarter worth approximately $62,000. GAMMA Investing LLC lifted 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 worth $67,000 after purchasing an additional 276 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in Hexcel by 38.9% in the 3rd quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock worth $92,000 after purchasing an additional 417 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on HXL shares. Morgan Stanley reduced their price objective on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Hexcel from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Thursday, October 10th. BMO Capital Markets cut their target price on Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Monday, October 28th. Finally, Truist Financial dropped their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.54.

Hexcel Price Performance

Shares of HXL stock opened at $59.53 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. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 45.44, a P/E/G ratio of 1.76 and a beta of 1.30. Hexcel Co. has a twelve month low of $57.50 and a twelve month high of $77.09. The stock has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $63.93.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $457.00 million during 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 firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 EPS. On average, analysts predict that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently announced 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. This represents a $0.60 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, November 1st. Hexcel’s dividend payout ratio is currently 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.