Raymond James Trust N.A. Sells 598 Shares of Hexcel Co. (NYSE:HXL)

Posted by Defense World Staff on Apr 27th, 2023

Hexcel logo Raymond James Trust N.A. trimmed its position in Hexcel Co. (NYSE:HXL – Get Rating) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,532 shares of the aerospace company’s stock after selling 598 shares during the quarter. Raymond James Trust N.A.’s holdings in Hexcel were worth $208,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Hexcel by 140.2% during the third quarter. Bessemer Group Inc. now owns 502 shares of the aerospace company’s stock worth $26,000 after buying an additional 293 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Hexcel by 173.9% during the third quarter. Quadrant Capital Group LLC now owns 545 shares of the aerospace company’s stock worth $28,000 after buying an additional 346 shares during the last quarter. CWM LLC grew its stake in shares of Hexcel by 74.7% during the third quarter. CWM LLC now owns 641 shares of the aerospace company’s stock worth $33,000 after buying an additional 274 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Hexcel during the third quarter worth $35,000. Finally, Money Concepts Capital Corp grew its stake in shares of Hexcel by 174.6% during the third quarter. Money Concepts Capital Corp now owns 692 shares of the aerospace company’s stock worth $36,000 after buying an additional 440 shares during the last quarter. 97.87% of the stock is owned by institutional investors.

Hexcel Stock Performance

Shares of HXL opened at $71.11 on Thursday. The firm’s fifty day simple moving average is $69.41 and its two-hundred day simple moving average is $63.50. Hexcel Co. has a 12 month low of $47.38 and a 12 month high of $74.99. The stock has a market capitalization of $6.00 billion, a P/E ratio of 48.05 and a beta of 1.23. The company has a current ratio of 2.23, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47.

Hexcel (NYSE:HXL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The aerospace company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.12. Hexcel had a net margin of 9.19% and a return on equity of 8.91%. The firm had revenue of $457.70 million for the quarter, compared to analyst estimates of $431.53 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, analysts predict that Hexcel Co. will post 1.8 EPS for the current year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, May 5th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a dividend yield of 0.70%. Hexcel’s dividend payout ratio is currently 33.78%.

Insider Activity

In other news, Director Marilyn Minus sold 700 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $71.31, for a total transaction of $49,917.00. Following the transaction, the director now owns 3,672 shares in the company, valued at $261,850.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Marilyn Minus sold 700 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $71.31, for a total value of $49,917.00. Following the sale, the director now owns 3,672 shares in the company, valued at approximately $261,850.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thierry Merlot sold 565 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $70.91, for a total transaction of $40,064.15. Following the completion of the sale, the insider now owns 38,010 shares in the company, valued at approximately $2,695,289.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,722 shares of company stock worth $676,077. Company insiders own 1.39% of the company’s stock.

Wall Street Analyst Weigh In

HXL has been the topic of a number of research reports. TheStreet raised shares of Hexcel from a “c+” rating to a “b” rating in a research note on Thursday, January 26th. Jefferies Financial Group boosted their price objective on shares of Hexcel from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 30th. Bank of America cut shares of Hexcel from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $70.00 in a research note on Friday, February 3rd. StockNews.com started coverage on shares of Hexcel in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Truist Financial boosted their price objective on shares of Hexcel from $59.00 to $68.00 in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Hexcel presently has a consensus rating of “Hold” and an average target price of $68.75.

Hexcel Profile

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Hexcel Corp. engages in the development, manufacture, and marketing of lightweight structural materials. It operates through the Composite Materials and Engineered Products segments. The Composite Materials segment includes carbon fiber, specialty reinforcements, resins, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles.