Meeder Asset Management Inc. Increases Position in Hexcel Corporation (NYSE:HXL)

Key Points

• Meeder Asset Management Inc. increased its holdings in Hexcel Corporation by 113.6%, acquiring an additional 33,790 shares in the first quarter, bringing their total ownership to 63,537 shares valued at approximately $3.48 million.
• Hexcel recently reported earnings per share (EPS) of $0.50 for the most recent quarter, exceeding analysts' expectations, though revenue declined by 2.1% compared to last year.
• The company has announced a quarterly dividend of $0.17, which will be payable on August 15, representing an annualized dividend yield of 1.10%.

Meeder Asset Management Inc. boosted its stake in Hexcel Corporation (NYSE:HXL - Free Report) by 113.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,537 shares of the aerospace company's stock after buying an additional 33,790 shares during the period. Meeder Asset Management Inc. owned 0.08% of Hexcel worth $3,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Hexcel by 10.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,205 shares of the aerospace company's stock worth $285,000 after acquiring an additional 492 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Hexcel by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 186,680 shares of the aerospace company's stock worth $10,223,000 after purchasing an additional 937 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Hexcel by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 2,306 shares of the aerospace company's stock worth $126,000 after buying an additional 1,125 shares during the last quarter. SG Americas Securities LLC bought a new position in Hexcel during the 1st quarter valued at approximately $281,000. Finally, Farther Finance Advisors LLC raised its stake in Hexcel by 71.2% during the first quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock valued at $66,000 after buying an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Hexcel Stock Performance

Shares of NYSE HXL traded down $0.10 during midday trading on Friday, hitting $59.81. 576,055 shares of the stock traded hands, compared to its average volume of 1,209,095. Hexcel Corporation has a one year low of $45.28 and a one year high of $71.05. The firm has a 50-day moving average of $57.03 and a two-hundred day moving average of $57.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.50 and a current ratio of 2.69. The firm has a market capitalization of $4.76 billion, a P/E ratio of 55.39, a PEG ratio of 2.01 and a beta of 1.28.

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 for the quarter, topping 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%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. On average, equities analysts forecast that Hexcel Corporation will post 2.14 EPS for the current fiscal year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 8th will be given a $0.17 dividend. The ex-dividend date is 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 presently 62.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HXL. Wells Fargo & Company cut their target price on Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Truist Financial reduced their price objective on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. UBS Group upped their target price on shares of Hexcel from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday. Wall Street Zen cut shares of Hexcel from a "buy" rating to a "hold" rating in a report on Sunday, April 27th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $70.00 price objective (up from $65.00) on shares of Hexcel in a report on Monday. One equities 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $63.33.

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.