Oppenheimer Asset Management Inc. Has $2.49 Million Position in Hexcel Co. (NYSE:HXL)

Oppenheimer Asset Management Inc. cut its position in shares of Hexcel Co. (NYSE:HXL) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,226 shares of the aerospace company’s stock after selling 778 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Hexcel were worth $2,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC increased its position in Hexcel by 263.8% during the first quarter. SG Americas Securities LLC now owns 8,138 shares of the aerospace company’s stock worth $593,000 after buying an additional 5,901 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Hexcel by 258.8% during the 1st quarter. Russell Investments Group Ltd. now owns 39,428 shares of the aerospace company’s stock worth $2,872,000 after acquiring an additional 28,439 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Hexcel by 6.9% in the 1st quarter. Bleakley Financial Group LLC now owns 2,915 shares of the aerospace company’s stock valued at $212,000 after acquiring an additional 187 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Hexcel by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 87,872 shares of the aerospace company’s stock valued at $5,997,000 after purchasing an additional 3,808 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Hexcel by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,029 shares of the aerospace company’s stock worth $1,459,000 after purchasing an additional 445 shares during the period. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HXL. Morgan Stanley dropped their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company increased their price target on shares of Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Thursday, October 10th. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets dropped their price target on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. 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. Based on data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and an average price target of $71.54.

Hexcel Stock Performance

NYSE:HXL opened at $59.53 on Friday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.81 and a beta of 1.30. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. The stock has a fifty day moving average price of $61.12 and a 200-day moving average price of $63.93.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. Hexcel’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, equities analysts anticipate that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a dividend of $0.15 per share. The ex-dividend date was Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 1.01%. Hexcel’s dividend payout ratio is 45.80%.

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.