Hexcel Corporation (NYSE:HXL) Shares Purchased by AGP Franklin LLC

Key Points

• AGP Franklin LLC increased its holdings in Hexcel Corporation by 176.4%, owning 34,420 shares valued at $1.8 million, reflecting a strong interest from institutional investors as they own 95.47% of the company.
• Hexcel reported earnings of $0.50 per share for Q2, surpassing estimates, and a revenue of $489.9 million, although revenue decreased by 2.1% year-over-year.
• The company declared a quarterly dividend of $0.17, set to be paid on August 15th, with a current dividend yield of 1.11%.

AGP Franklin LLC grew its stake in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 176.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,420 shares of the aerospace company's stock after acquiring an additional 21,965 shares during the period. AGP Franklin LLC's holdings in Hexcel were worth $1,797,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Hexcel during the 1st quarter worth $61,000. Parvin Asset Management LLC bought a new position in shares of Hexcel in the 4th quarter worth about $66,000. Farther Finance Advisors LLC lifted its position in shares of Hexcel by 71.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock worth $66,000 after buying an additional 499 shares during the last quarter. Huntington National Bank lifted its position in shares of Hexcel by 21.4% in the 4th quarter. Huntington National Bank now owns 1,159 shares of the aerospace company's stock worth $73,000 after buying an additional 204 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Hexcel by 61.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company's stock worth $80,000 after buying an additional 486 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HXL. UBS Group raised their price target on shares of Hexcel from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday. Truist Financial cut their price objective on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley lifted their price objective 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $70.00 price objective (up from $65.00) on shares of Hexcel in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Hexcel from $52.00 to $67.00 and gave the company a "market perform" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Hexcel has an average rating of "Hold" and an average target price of $63.33.

Hexcel Price Performance

Hexcel stock traded down $1.07 during trading hours on Thursday, hitting $59.93. 569,470 shares of the company traded hands, compared to its average volume of 1,210,032. The firm has a market cap of $4.77 billion, a P/E ratio of 55.45, a P/E/G ratio of 2.08 and a beta of 1.28. The company has a quick ratio of 1.50, a current ratio of 2.69 and a debt-to-equity ratio of 0.53. The firm's 50-day simple moving average is $56.88 and its two-hundred day simple moving average is $57.57. Hexcel Corporation has a 1-year low of $45.28 and a 1-year high of $71.05.

Hexcel (NYSE:HXL - Get Free Report) last released its earnings results on Thursday, July 24th. The aerospace company reported $0.50 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 analysts' expectations of $482.20 million. Hexcel had a net margin of 4.69% and a return on equity of 9.76%. Hexcel's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. As a group, analysts forecast that Hexcel Corporation will post 2.14 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be issued a $0.17 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. Hexcel's payout ratio is currently 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.