Allspring Global Investments Holdings LLC Trims Stake in Hexcel Co. (NYSE:HXL)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Hexcel Co. (NYSE:HXL) by 63.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 45,398 shares of the aerospace company’s stock after selling 79,844 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hexcel were worth $3,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HXL. Cetera Trust Company N.A purchased a new stake in Hexcel in the fourth quarter worth approximately $30,000. Principal Securities Inc. purchased a new position in shares of Hexcel in the 4th quarter worth $51,000. GAMMA Investing LLC bought a new stake in shares of Hexcel in the fourth quarter worth $53,000. Arcadia Investment Management Corp MI lifted its holdings in Hexcel by 41.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 908 shares of the aerospace company’s stock valued at $67,000 after acquiring an additional 267 shares during the period. Finally, Psagot Value Holdings Ltd. Israel boosted its position in Hexcel by 775.2% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 954 shares of the aerospace company’s stock worth $71,000 after purchasing an additional 845 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hexcel

In related news, CEO Tom Gentile acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $66.25 per share, with a total value of $993,750.00. Following the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $993,750. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Hexcel news, Director Jeffrey C. Campbell purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $64.13 per share, for a total transaction of $641,300.00. Following the purchase, the director now directly owns 17,803 shares in the company, valued at $1,141,706.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tom Gentile purchased 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 directly owns 15,000 shares of the company’s stock, valued at approximately $993,750. 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HXL. Wells Fargo & Company upgraded shares of Hexcel from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $81.00 to $95.00 in a research report on Wednesday, May 8th. Bank of America reaffirmed an “underperform” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. The Goldman Sachs Group lifted their price target on shares of Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $76.00 price objective on shares of Hexcel in a research report on Friday, June 14th. Finally, UBS Group cut their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $76.86.

Hexcel Stock Up 1.5 %

Shares of NYSE:HXL traded up $0.92 on Tuesday, reaching $63.41. The company had a trading volume of 42,495 shares, compared to its average volume of 934,237. Hexcel Co. has a 52-week low of $58.81 and a 52-week high of $79.08. The firm’s 50 day simple moving average is $67.23 and its 200-day simple moving average is $69.78. The firm has a market capitalization of $5.27 billion, a PE ratio of 53.84, a PEG ratio of 1.17 and a beta of 1.28. The company has a current ratio of 2.74, a quick ratio of 1.51 and a debt-to-equity ratio of 0.44.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The business had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts expect that Hexcel Co. will post 2.21 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, May 3rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Hexcel’s dividend payout ratio is presently 51.28%.

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.