Hexcel Corporation $HXL Stock: Redmond Asset Management LLC Decreases Holdings

Key Points

• Redmond Asset Management cut its Hexcel stake by 69% in the third quarter, selling 24,512 shares and retaining 11,020 shares valued at approximately $925,000.
• Institutional ownership remains high at 95.47%, with several funds—including Amundi and Bank of America—adding or initiating positions in Hexcel.
• Analysts have a consensus “Hold” rating and a $101.67 price target. Hexcel recently beat quarterly EPS estimates, while revenue increased 8.8% year over year; the company also declared a $0.18 quarterly dividend.

Redmond Asset Management LLC decreased its position in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 69.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,020 shares of the aerospace company's stock after selling 24,512 shares during the quarter. Redmond Asset Management LLC's holdings in Hexcel were worth $925,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi increased its position in Hexcel by 124.4% during the second quarter. Amundi now owns 139,357 shares of the aerospace company's stock worth $13,944,000 after buying an additional 77,268 shares during the period. Bank of America Corp DE purchased a new stake in Hexcel in the second quarter valued at approximately $216,948,000. Corient Private Wealth LP purchased a new stake in Hexcel in the second quarter valued at approximately $3,260,000. Redwood Investment Management LLC acquired a new stake in shares of Hexcel in the first quarter valued at approximately $1,054,000. Finally, Trillium Asset Management LLC acquired a new stake in shares of Hexcel in the second quarter valued at approximately $7,535,000. Institutional investors and hedge funds own 95.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HXL. Morgan Stanley set a $92.00 target price on shares of Hexcel in a research report on Friday, October 23rd. Jefferies Financial Group reduced their price target on shares of Hexcel from $110.00 to $98.00 and set a "hold" rating for the company in a research report on Monday, September 28th. Seaport Research Partners upgraded shares of Hexcel from a "neutral" rating to a "buy" rating and set a $104.00 price target for the company in a research report on Sunday, October 11th. Wolfe Research cut shares of Hexcel from an "outperform" rating to a "peer perform" rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $100.00 price objective on shares of Hexcel in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Hexcel has an average rating of "Hold" and a consensus target price of $101.67.

Hexcel Stock Down 1.3%

HXL opened at $77.88 on Thursday. The business has a 50 day moving average price of $88.45 and a two-hundred day moving average price of $90.56. The company has a quick ratio of 1.42, a current ratio of 2.57 and a debt-to-equity ratio of 0.71. The company has a market cap of $5.90 billion, a PE ratio of 34.92, a P/E/G ratio of 1.09 and a beta of 1.10. Hexcel Corporation has a 52 week low of $67.38 and a 52 week high of $111.74.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The aerospace company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. Hexcel had a return on equity of 13.57% and a net margin of 8.50%. The company had revenue of $496.40 million during the quarter, compared to analysts' expectations of $501.95 million. During the same period last year, the firm earned $0.37 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Hexcel Corporation will post 2.36 EPS for the current year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, November 2nd. Hexcel's dividend payout ratio is 32.29%.

Insider Buying and Selling at Hexcel

In related news, insider Gina Fitzsimons sold 9,675 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $103.14, for a total transaction of $997,879.50. Following the completion of the sale, the insider directly owned 7,712 shares of the company's stock, valued at $795,415.68. This trade represents a 55.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gail Lehman sold 13,829 shares of Hexcel stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $92.10, for a total transaction of $1,273,650.90. Following the completion of the transaction, the insider owned 20,148 shares in the company, valued at approximately $1,855,630.80. This trade represents a 40.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.84% of the stock is owned by company insiders.

Hexcel Profile

Hexcel Corporation is an advanced materials company that develops and manufactures lightweight, high-performance composite materials and structural components. Its products are designed to improve strength, durability, fuel efficiency, and performance across demanding applications.

The company's portfolio includes carbon fiber, fiberglass, specialty reinforcements, prepregs, adhesives, honeycomb materials, engineered core products, and composite structures. These materials and components are used in commercial aircraft, military and space systems, helicopters, wind turbine blades, and various industrial applications.

Hexcel serves customers worldwide through manufacturing, research, and distribution operations in North America, Europe, Asia, and other international markets.

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