Oppenheimer Asset Management Inc. Sells 778 Shares of Hexcel Co. (NYSE:HXL)

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

Several other hedge funds have also recently added to or reduced their stakes in HXL. Capital Performance Advisors LLP acquired a new position in shares of Hexcel during the 3rd quarter worth about $56,000. Eastern Bank acquired a new position in Hexcel during the third quarter valued at approximately $62,000. GAMMA Investing LLC increased its stake in Hexcel by 34.8% in the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after purchasing an additional 276 shares in the last quarter. Whittier Trust Co. raised its holdings in Hexcel by 38.9% in the third quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock worth $92,000 after purchasing an additional 417 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Hexcel during the second quarter worth $128,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

HXL has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Truist Financial decreased 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. Finally, StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $71.54.

Hexcel Stock Performance

Shares of HXL stock opened at $59.53 on Friday. The firm has a market cap of $4.82 billion, a PE ratio of 45.44, a P/E/G ratio of 1.81 and a beta of 1.30. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09. The company’s fifty day simple moving average is $61.12 and its 200-day simple moving average is $63.93. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Equities research analysts expect that Hexcel Co. will post 2.02 EPS for the current fiscal year.

Hexcel Announces Dividend

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

Hexcel 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.