Welch & Forbes LLC Acquires New Position in Hexcel Co. (NYSE:HXL)

Welch & Forbes LLC bought a new position in shares of Hexcel Co. (NYSE:HXL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,747 shares of the aerospace company’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HXL. Earnest Partners LLC raised its position in Hexcel by 1.1% during the 3rd quarter. Earnest Partners LLC now owns 4,344,230 shares of the aerospace company’s stock valued at $282,983,000 after purchasing an additional 47,591 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Hexcel by 18.8% in the third quarter. Westfield Capital Management Co. LP now owns 1,462,293 shares of the aerospace company’s stock worth $95,254,000 after acquiring an additional 231,207 shares during the period. Victory Capital Management Inc. grew its holdings in Hexcel by 6.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,377,915 shares of the aerospace company’s stock worth $101,621,000 after acquiring an additional 81,389 shares in the last quarter. Sei Investments Co. increased its position in Hexcel by 5.5% during the 3rd quarter. Sei Investments Co. now owns 1,053,735 shares of the aerospace company’s stock valued at $68,640,000 after purchasing an additional 55,384 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Hexcel by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 783,019 shares of the aerospace company’s stock valued at $51,006,000 after purchasing an additional 19,897 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Performance

Hexcel stock traded up $1.47 during trading hours on Wednesday, hitting $72.65. 470,465 shares of the stock traded hands, compared to its average volume of 954,292. The firm’s 50 day moving average price is $69.58 and its 200-day moving average price is $69.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.51. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 60.84, a P/E/G ratio of 1.39 and a beta of 1.25. Hexcel Co. has a 1 year low of $58.81 and a 1 year high of $79.08.

Hexcel (NYSE:HXL) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Hexcel had a return on equity of 8.97% and a net margin of 5.52%. The firm had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Hexcel’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts expect that Hexcel Co. will post 2.22 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, May 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. Hexcel’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling at Hexcel

In related news, CEO Tom Gentile acquired 15,000 shares of Hexcel stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $66.25 per share, for a total transaction of $993,750.00. Following the purchase, the chief executive officer now owns 15,000 shares of the company’s stock, valued at approximately $993,750. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Tom Gentile acquired 15,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $66.25 per share, for a total transaction of $993,750.00. Following the transaction, the chief executive officer now owns 15,000 shares in the company, valued at approximately $993,750. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey C. Campbell bought 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were purchased at an average cost of $64.13 per share, with a total value of $641,300.00. Following the completion of the acquisition, the director now owns 17,803 shares in the company, valued at $1,141,706.39. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 43,400 shares of company stock valued at $2,820,322. 1.85% of the stock is owned by insiders.

Analysts Set New Price Targets

HXL has been the subject of a number of recent research reports. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. BMO Capital Markets boosted their price target on Hexcel from $69.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Truist Financial dropped their price objective on Hexcel from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Northcoast Research downgraded shares of Hexcel from a “buy” rating to a “neutral” rating in a report on Wednesday, April 10th. Finally, UBS Group lowered their price target on shares of Hexcel from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.57.

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.