Concentric Capital Strategies LP Buys New Stake in Hexcel Corporation $HXL

Key Points

• Concentric Capital Strategies LP has purchased 50,599 shares of Hexcel Corporation, valued at approximately $2,771,000, representing about 0.06% of the company's stock.
• In the most recent quarter, several institutional investors, including Northern Trust Corp and Comerica Bank, significantly increased their stakes in Hexcel, contributing to a total institutional ownership of 95.47%.
• Hexcel's latest earnings report exceeded expectations, reporting $0.50 EPS on revenues of $489.90 million, with forecasted annual EPS between 1.850-2.050 for FY 2025.

Concentric Capital Strategies LP purchased a new position in Hexcel Corporation (NYSE:HXL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,599 shares of the aerospace company's stock, valued at approximately $2,771,000. Concentric Capital Strategies LP owned 0.06% of Hexcel at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Hexcel by 10.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,205 shares of the aerospace company's stock valued at $285,000 after purchasing an additional 492 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hexcel by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 186,680 shares of the aerospace company's stock valued at $10,223,000 after purchasing an additional 937 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Hexcel by 32.4% during the 1st quarter. Russell Investments Group Ltd. now owns 57,266 shares of the aerospace company's stock valued at $3,136,000 after purchasing an additional 14,002 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Hexcel by 2.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 817,388 shares of the aerospace company's stock valued at $44,760,000 after purchasing an additional 22,396 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Hexcel by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 2,306 shares of the aerospace company's stock valued at $126,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors own 95.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $70.00 price objective (up previously from $65.00) on shares of Hexcel in a report on Monday, July 28th. BMO Capital Markets increased their price objective on shares of Hexcel from $52.00 to $67.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. UBS Group upgraded shares of Hexcel from a "neutral" rating to a "buy" rating and upped their target price for the company from $65.00 to $80.00 in a research report on Tuesday, September 2nd. Zacks Research upgraded shares of Hexcel from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, Morgan Stanley upped their target price on shares of Hexcel from $50.00 to $55.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hexcel currently has an average rating of "Hold" and a consensus target price of $65.00.

Insiders Place Their Bets

In other news, insider Gina Fitzsimons sold 911 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $65.00, for a total transaction of $59,215.00. Following the sale, the insider directly owned 4,283 shares of the company's stock, valued at $278,395. The trade was a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thierry Merlot sold 8,897 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $63.86, for a total transaction of $568,162.42. Following the sale, the insider directly owned 51,308 shares in the company, valued at $3,276,528.88. This trade represents a 14.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.03% of the stock is owned by insiders.

Hexcel Trading Down 1.8%

Shares of NYSE:HXL traded down $1.16 during trading on Tuesday, reaching $63.20. 290,324 shares of the company were exchanged, compared to its average volume of 1,152,531. The firm has a market capitalization of $5.03 billion, a PE ratio of 58.52, a P/E/G ratio of 2.06 and a beta of 1.38. The business's fifty day simple moving average is $61.15 and its 200-day simple moving average is $56.74. Hexcel Corporation has a 12-month low of $45.28 and a 12-month high of $71.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.69 and a quick ratio of 1.50.

Hexcel (NYSE:HXL - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $489.90 million for the quarter, compared to analyst estimates of $482.20 million. Hexcel had a net margin of 4.69% and a return on equity of 9.76%. Hexcel's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. Hexcel has set its FY 2025 guidance at 1.850-2.050 EPS. On average, research analysts anticipate that Hexcel Corporation will post 2.14 EPS for the current year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. Hexcel's payout ratio is 62.96%.

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.