Pallas Capital Advisors LLC Makes New Investment in Hexcel Co. (NYSE:HXL)

Pallas Capital Advisors LLC bought a new position in shares of Hexcel Co. (NYSE:HXL) in the second quarter, HoldingsChannel.com reports. The firm bought 10,271 shares of the aerospace company’s stock, valued at approximately $643,000.

A number of other hedge funds also recently bought and sold shares of HXL. Corient Private Wealth LLC lifted its holdings in shares of Hexcel by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 53,624 shares of the aerospace company’s stock valued at $3,955,000 after purchasing an additional 143 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Hexcel by 1.8% during the 4th quarter. Xponance Inc. now owns 10,251 shares of the aerospace company’s stock valued at $756,000 after purchasing an additional 178 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Hexcel by 2.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,440 shares of the aerospace company’s stock valued at $542,000 after purchasing an additional 182 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Hexcel by 6.9% during the 1st quarter. Bleakley Financial Group LLC now owns 2,915 shares of the aerospace company’s stock valued at $212,000 after purchasing an additional 187 shares during the last quarter. Finally, Centerpoint Advisors LLC raised its stake in Hexcel by 44.6% in the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus reduced their target price on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Truist Financial reduced their target price on Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Hexcel from $70.00 to $68.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company upgraded Hexcel from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $81.00 to $95.00 in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.54.

Hexcel Price Performance

HXL traded up $0.44 during trading on Wednesday, reaching $62.83. The company’s stock had a trading volume of 40,145 shares, compared to its average volume of 913,402. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $63.69 and a two-hundred day simple moving average of $67.90. Hexcel Co. has a 1 year low of $58.81 and a 1 year high of $77.09. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 53.34, a PEG ratio of 1.40 and a beta of 1.28.

Hexcel (NYSE:HXL) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. As a group, analysts anticipate that Hexcel Co. will post 2.09 EPS for the current year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Hexcel’s dividend payout ratio (DPR) is 51.28%.

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.