Bank of Montreal Can Purchases 14,957 Shares of Hexcel Corporation $HXL

Bank of Montreal Can grew its position in Hexcel Corporation (NYSE:HXL) by 23.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,791 shares of the aerospace company’s stock after acquiring an additional 14,957 shares during the quarter. Bank of Montreal Can’s holdings in Hexcel were worth $4,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HXL. Teacher Retirement System of Texas bought a new position in shares of Hexcel during the 1st quarter valued at approximately $649,000. Brown Advisory Inc. increased its position in Hexcel by 83.4% in the first quarter. Brown Advisory Inc. now owns 6,693 shares of the aerospace company’s stock worth $367,000 after purchasing an additional 3,043 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Hexcel by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,013,875 shares of the aerospace company’s stock valued at $110,280,000 after purchasing an additional 17,512 shares in the last quarter. Victory Capital Management Inc. lifted its position in Hexcel by 13.9% during the first quarter. Victory Capital Management Inc. now owns 17,531 shares of the aerospace company’s stock valued at $960,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Hexcel by 10,767.3% during the first quarter. Jennison Associates LLC now owns 392,091 shares of the aerospace company’s stock valued at $21,471,000 after purchasing an additional 388,483 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HXL. Morgan Stanley set a $67.00 target price on shares of Hexcel and gave the stock an “underweight” rating in a report on Wednesday, October 29th. TD Cowen lifted their price target on Hexcel from $67.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. Truist Financial upped their price objective on Hexcel from $75.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Royal Bank Of Canada raised their price objective on Hexcel from $70.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Cowen reissued a “hold” rating on shares of Hexcel in a research report on Friday, October 24th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.33.

Hexcel Stock Performance

HXL stock opened at $68.78 on Wednesday. Hexcel Corporation has a twelve month low of $45.28 and a twelve month high of $74.35. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 80.92, a PEG ratio of 2.36 and a beta of 1.35. The business’s fifty day simple moving average is $65.23 and its two-hundred day simple moving average is $60.04. The company has a quick ratio of 1.50, a current ratio of 2.75 and a debt-to-equity ratio of 0.48.

Hexcel (NYSE:HXL) last issued its earnings results on Wednesday, October 22nd. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $456.20 million for the quarter, compared to analysts’ expectations of $449.99 million. Hexcel had a net margin of 3.67% and a return on equity of 9.25%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Hexcel has set its FY 2025 guidance at 1.700-1.800 EPS. Analysts predict that Hexcel Corporation will post 2.14 earnings per share for the current year.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, November 3rd. Hexcel’s dividend payout ratio is currently 80.00%.

Insider Activity at Hexcel

In other Hexcel news, insider Lyndon John Smith sold 2,077 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $73.02, for a total transaction of $151,662.54. Following the transaction, the insider directly owned 8,426 shares in the company, valued at $615,266.52. This trade represents a 19.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gina Fitzsimons sold 911 shares of Hexcel stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $65.00, for a total value of $59,215.00. Following the sale, the insider directly owned 4,283 shares of the company’s stock, valued at approximately $278,395. This trade represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 15,298 shares of company stock valued at $1,029,349. 1.39% of the stock is owned by insiders.

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.