Hexcel Corporation $HXL Stock Position Lifted by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in Hexcel Corporation by 19.9%, owning 688,593 shares valued at approximately $37.71 million as of the last quarter.
• Hexcel recently recorded a quarterly EPS of $0.50, which exceeded analysts' expectations, and declared a quarterly dividend of $0.17 per share, reflecting an annual yield of 1.1%.
• Following recent analyst reviews, Hexcel has seen its stock price target shifted, with UBS Group raising it from $65.00 to $80.00 and several analysts giving it a consensus rating of "Hold".

Millennium Management LLC boosted its stake in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 19.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 688,593 shares of the aerospace company's stock after purchasing an additional 114,212 shares during the period. Millennium Management LLC owned approximately 0.86% of Hexcel worth $37,707,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. NBC Securities Inc. purchased a new position in shares of Hexcel in the 1st quarter valued at $61,000. Brooklyn Investment Group raised its stake in shares of Hexcel by 320.2% in the 1st quarter. Brooklyn Investment Group now owns 1,164 shares of the aerospace company's stock valued at $64,000 after acquiring an additional 887 shares during the period. Farther Finance Advisors LLC raised its stake 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 valued at $66,000 after acquiring an additional 499 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Hexcel by 413.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,536 shares of the aerospace company's stock valued at $84,000 after acquiring an additional 1,237 shares during the period. Finally, GAMMA Investing LLC raised 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 valued at $126,000 after acquiring an additional 1,125 shares during the period. Hedge funds and other institutional investors own 95.47% of the company's stock.

Insider Buying and Selling

In other news, insider Thierry Merlot sold 8,897 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $63.86, for a total transaction of $568,162.42. Following the sale, the insider owned 51,308 shares in the company, valued at $3,276,528.88. The trade was a 14.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gina Fitzsimons sold 911 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $65.00, for a total transaction of $59,215.00. Following the sale, the insider owned 4,283 shares in the company, valued at $278,395. This represents a 17.54% decrease in their position. The disclosure for this sale can be found here. 2.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Hexcel Price Performance

Shares of NYSE HXL traded up $0.10 during midday trading on Monday, reaching $62.05. The company's stock had a trading volume of 105,439 shares, compared to its average volume of 1,146,585. The company has a current ratio of 2.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $61.55 and a 200 day moving average price of $56.74. Hexcel Corporation has a one year low of $45.28 and a one year high of $71.05. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 57.40, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38.

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, topping analysts' consensus estimates of $0.46 by $0.04. Hexcel had a net margin of 4.69% and a return on equity of 9.76%. The business had revenue of $489.90 million for the quarter, compared to the consensus estimate of $482.20 million. During the same period in the previous year, the firm earned $0.60 EPS. The business's revenue for the quarter was down 2.1% on a year-over-year basis. Hexcel has set its FY 2025 guidance at 1.850-2.050 EPS. On average, equities research analysts expect that Hexcel Corporation will post 2.14 EPS for the current year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were issued a dividend of $0.17 per share. 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 payout ratio is currently 62.96%.

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.