Holocene Advisors LP Has $7 Million Stock Position in Hexcel Co. (NYSE:HXL)

Holocene Advisors LP raised its position in shares of Hexcel Co. (NYSE:HXL) by 347.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 113,157 shares of the aerospace company’s stock after purchasing an additional 87,849 shares during the quarter. Holocene Advisors LP’s holdings in Hexcel were worth $6,996,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Hexcel during the third quarter worth $30,000. Capital Performance Advisors LLP acquired a new stake in Hexcel during the 3rd quarter worth about $56,000. First Horizon Advisors Inc. raised its position in shares of Hexcel by 53.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 326 shares in the last quarter. Huntington National Bank lifted its stake in shares of Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 225 shares during the period. Finally, Eastern Bank bought a new stake in shares of Hexcel during the 3rd quarter valued at about $62,000. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Performance

Shares of Hexcel stock opened at $63.91 on Wednesday. Hexcel Co. has a 52 week low of $57.50 and a 52 week high of $77.09. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average price of $61.20 and a 200-day moving average price of $63.14. The company has a market cap of $5.18 billion, a PE ratio of 48.79, a price-to-earnings-growth ratio of 1.98 and a beta of 1.30.

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, 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 business had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same period last year, the business earned $0.38 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Equities analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s payout ratio is 45.80%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HXL shares. UBS Group lifted their target price on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Royal Bank of Canada lowered shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.58.

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.