Fifth Third Bancorp Acquires 6,420 Shares of Hexcel Corporation $HXL

Key Points

• Fifth Third Bancorp increased its stake in Hexcel Corporation by 17.2%, acquiring an additional 6,420 shares during the second quarter, bringing its total holdings to 43,744 shares valued at approximately $2.47 million.
• Hexcel reported $0.50 earnings per share for the last quarter, surpassing expectations, despite a year-over-year revenue decline of 2.1%.
• The company recently announced a quarterly dividend of $0.17 per share, reflecting a 1.1% yield on an annual basis and a dividend payout ratio of 62.96%.

Fifth Third Bancorp boosted its holdings in Hexcel Corporation (NYSE:HXL - Free Report) by 17.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,744 shares of the aerospace company's stock after buying an additional 6,420 shares during the period. Fifth Third Bancorp owned approximately 0.05% of Hexcel worth $2,471,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Hexcel in the 2nd quarter valued at $55,000. Harbor Capital Advisors Inc. increased its holdings in Hexcel by 1.7% in the second quarter. Harbor Capital Advisors Inc. now owns 26,478 shares of the aerospace company's stock valued at $1,496,000 after purchasing an additional 455 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Hexcel by 38.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,252 shares of the aerospace company's stock valued at $184,000 after buying an additional 896 shares during the period. Kopion Asset Management LLC boosted its holdings in Hexcel by 17.7% during the second quarter. Kopion Asset Management LLC now owns 103,776 shares of the aerospace company's stock worth $5,862,000 after buying an additional 15,597 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Hexcel by 206.9% during the 1st quarter. Voya Investment Management LLC now owns 109,190 shares of the aerospace company's stock worth $5,979,000 after buying an additional 73,615 shares during the period. Institutional investors and hedge funds own 95.47% of the company's stock.

Hexcel Trading Up 3.9%

HXL opened at $63.43 on Friday. The stock has a market capitalization of $5.05 billion, a P/E ratio of 58.74, a P/E/G ratio of 1.94 and a beta of 1.38. The company has a current ratio of 2.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53. Hexcel Corporation has a 12 month low of $45.28 and a 12 month high of $71.05. The firm's fifty day simple moving average is $62.15 and its 200 day simple moving average is $56.98.

Hexcel (NYSE:HXL - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $489.90 million for the quarter, compared to the consensus estimate of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%.The company's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Hexcel has set its FY 2025 guidance at 1.850-2.050 EPS. As a group, research analysts anticipate that Hexcel Corporation will post 2.14 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given 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 yield of 1.1%. Hexcel's dividend payout ratio is 62.96%.

Wall Street Analyst Weigh In

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

Insider Activity at Hexcel

In other news, 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 value of $568,162.42. Following the sale, the insider owned 51,308 shares of the company's stock, valued at $3,276,528.88. The trade was a 14.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gina Fitzsimons sold 911 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $65.00, for a total transaction of $59,215.00. Following the transaction, the insider owned 4,283 shares of the company's stock, valued at $278,395. The trade was a 17.54% decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

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.

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