Loomis Sayles & Co. L P Trims Stake in Hexcel Co. (NYSE:HXL)

Loomis Sayles & Co. L P lessened its position in Hexcel Co. (NYSE:HXL) by 1.5% in the third quarter, HoldingsChannel reports. The firm owned 1,028,690 shares of the aerospace company’s stock after selling 15,328 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Hexcel were worth $63,603,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Hexcel by 151.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock valued at $25,086,000 after buying an additional 207,434 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its stake in Hexcel by 15.6% during the third quarter. Speece Thorson Capital Group Inc. now owns 244,873 shares of the aerospace company’s stock worth $15,140,000 after acquiring an additional 32,960 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in Hexcel by 32.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock worth $5,897,000 after purchasing an additional 19,736 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Hexcel by 215.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after purchasing an additional 590,975 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Hexcel during the second quarter valued at approximately $250,000. 95.47% of the stock is currently owned by institutional investors.

Hexcel Stock Performance

HXL stock opened at $61.19 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. Hexcel Co. has a 1 year low of $57.50 and a 1 year high of $77.09. The company has a market cap of $4.96 billion, a P/E ratio of 46.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. The stock’s fifty day moving average price is $60.97 and its 200-day moving average price is $63.54.

Hexcel (NYSE:HXL) last announced its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping 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 firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts forecast that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a $0.15 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.98%. Hexcel’s payout ratio is presently 45.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HXL shares. Truist Financial reduced their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. UBS Group raised their price target on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, October 10th. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Hexcel currently has an average rating of “Hold” and an average price target of $71.31.

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.