Hexcel Co. (NYSE:HXL) Short Interest Down 12.0% in June

Hexcel Co. (NYSE:HXL) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,250,000 shares, a drop of 12.0% from the May 31st total of 1,420,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.5% of the company’s shares are short sold.

Hexcel Price Performance

HXL traded up $0.95 during trading on Wednesday, reaching $64.74. 438,234 shares of the stock were exchanged, compared to its average volume of 937,011. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.51. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 55.33, a P/E/G ratio of 1.17 and a beta of 1.28. Hexcel has a 1 year low of $58.81 and a 1 year high of $79.08. The business’s 50 day moving average price is $67.26 and its two-hundred day moving average price is $69.68.

Hexcel (NYSE:HXL) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The company had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Hexcel will post 2.21 earnings per share for the current year.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, May 3rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. Hexcel’s dividend payout ratio (DPR) is currently 51.28%.

Analyst Upgrades and Downgrades

HXL has been the subject of several analyst reports. Truist Financial lowered their price objective on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 19th. UBS Group dropped their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price target on shares of Hexcel in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.86.

Insider Buying and Selling

In related news, CEO Nick L. Stanage bought 15,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was bought at an average cost of $64.29 per share, for a total transaction of $964,350.00. Following the acquisition, the chief executive officer now directly owns 392,446 shares in the company, valued at $25,230,353.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Catherine A. Suever bought 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $68.33 per share, with a total value of $27,332.00. Following the completion of the transaction, the director now directly owns 15,748 shares in the company, valued at $1,076,060.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nick L. Stanage bought 15,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were purchased at an average price of $64.29 per share, with a total value of $964,350.00. Following the completion of the acquisition, the chief executive officer now directly owns 392,446 shares in the company, valued at $25,230,353.34. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 43,400 shares of company stock worth $2,820,322. 1.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Trexquant Investment LP acquired a new stake in Hexcel during the 4th quarter worth approximately $2,185,000. Sequoia Financial Advisors LLC purchased a new position in shares of Hexcel in the 4th quarter valued at $2,362,000. Evoke Wealth LLC purchased a new stake in Hexcel during the 4th quarter worth $2,036,000. Ceredex Value Advisors LLC increased its holdings in Hexcel by 16.4% in the 4th quarter. Ceredex Value Advisors LLC now owns 217,202 shares of the aerospace company’s stock valued at $16,019,000 after purchasing an additional 30,652 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. lifted its stake in shares of Hexcel by 71.6% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 179,670 shares of the aerospace company’s stock worth $13,251,000 after purchasing an additional 74,957 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.