Hexcel Co. (NYSE:HXL) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its position in shares of Hexcel Co. (NYSE:HXL) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,277 shares of the aerospace company’s stock after selling 547 shares during the period. Summit Investment Advisors Inc.’s holdings in Hexcel were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Hexcel by 1.4% during the fourth quarter. UMB Bank n.a. now owns 14,766 shares of the aerospace company’s stock worth $926,000 after acquiring an additional 202 shares during the last quarter. Huntington National Bank grew its holdings in shares of Hexcel by 21.4% during the 4th quarter. Huntington National Bank now owns 1,159 shares of the aerospace company’s stock worth $73,000 after purchasing an additional 204 shares during the period. GAMMA Investing LLC grew its holdings in shares of Hexcel by 21.1% during the 4th quarter. GAMMA Investing LLC now owns 1,181 shares of the aerospace company’s stock worth $74,000 after purchasing an additional 206 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Hexcel by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 35,779 shares of the aerospace company’s stock worth $2,243,000 after purchasing an additional 220 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Hexcel by 0.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 43,511 shares of the aerospace company’s stock valued at $2,728,000 after buying an additional 232 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Stock Down 0.1 %

HXL stock opened at $52.03 on Friday. Hexcel Co. has a fifty-two week low of $45.28 and a fifty-two week high of $73.58. The company’s 50 day moving average price is $57.54 and its 200 day moving average price is $61.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.72 and a beta of 1.08.

Hexcel (NYSE:HXL) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. On average, equities research analysts anticipate that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. This is a boost from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio (DPR) is presently 42.77%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HXL. Morgan Stanley dropped their price target on shares of Hexcel from $61.00 to $50.00 and set an “underperform” rating for the company in a research report on Friday, April 11th. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a report on Friday, April 11th. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Monday, February 24th. Truist Financial dropped their price objective on Hexcel from $80.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays decreased their target price on Hexcel from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and a consensus target price of $67.40.

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.