Trillium Asset Management LLC Has $9.68 Million Stock Holdings in Hexcel Corporation (NYSE:HXL)

Key Points

• Trillium Asset Management LLC has reduced its holdings in Hexcel Corporation by 2.8%, now owning approximately 0.22% of the company, valued at $9.68 million.
• Hexcel reported quarterly earnings of $0.50 EPS, exceeding expectations and along with revenue of $489.90 million, though it represents a 2.1% decrease compared to the same quarter last year.
• The company's board has announced a quarterly dividend of $0.17 per share to be paid on August 15, with a yield of 1.1% and a dividend payout ratio of 62.96%.

Trillium Asset Management LLC decreased its position in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 176,745 shares of the aerospace company's stock after selling 5,033 shares during the period. Trillium Asset Management LLC owned 0.22% of Hexcel worth $9,679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. purchased a new position in Hexcel during the fourth quarter worth approximately $436,000. Wells Fargo & Company MN grew its holdings in Hexcel by 8.5% during the 4th quarter. Wells Fargo & Company MN now owns 287,002 shares of the aerospace company's stock valued at $17,995,000 after purchasing an additional 22,528 shares in the last quarter. Bank of Montreal Can grew its holdings in Hexcel by 12.5% during the 4th quarter. Bank of Montreal Can now owns 62,107 shares of the aerospace company's stock valued at $3,894,000 after purchasing an additional 6,907 shares in the last quarter. Invesco Ltd. grew its holdings in Hexcel by 6.9% during the 4th quarter. Invesco Ltd. now owns 729,995 shares of the aerospace company's stock valued at $45,771,000 after purchasing an additional 46,983 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Hexcel during the 4th quarter worth $7,092,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Hexcel Stock Down 1.0%

HXL traded down $0.60 on Friday, reaching $61.86. 644,836 shares of the company traded hands, compared to its average volume of 1,227,457. The stock's 50 day moving average price is $58.70 and its 200-day moving average price is $57.06. Hexcel Corporation has a 52-week low of $45.28 and a 52-week high of $71.05. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 57.28, a PEG ratio of 2.07 and a beta of 1.36. 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 posted its earnings results on Thursday, July 24th. The aerospace company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.46 by $0.04. Hexcel had a net margin of 4.69% and a return on equity of 9.76%. The company had revenue of $489.90 million during the quarter, compared to the consensus estimate of $482.20 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company's revenue for the quarter was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Hexcel Corporation will post 2.14 EPS for the current fiscal year.

Hexcel Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Hexcel from a "buy" rating to a "hold" rating in a report on Sunday, April 27th. 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, July 28th. Truist Financial dropped their price target 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. Wells Fargo & Company dropped their price target on shares of Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group lifted their price objective on shares of Hexcel from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Hexcel currently has a consensus rating of "Hold" and an average target price of $63.33.

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.