OLD National Bancorp IN Makes New $210,000 Investment in Hexcel Co. (NYSE:HXL)

OLD National Bancorp IN bought a new position in Hexcel Co. (NYSE:HXL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,400 shares of the aerospace company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HXL. Fidelis Capital Partners LLC purchased a new stake in shares of Hexcel during the first quarter valued at approximately $36,000. Centerpoint Advisors LLC boosted its stake in shares of Hexcel by 44.6% during the first quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Hexcel during the first quarter valued at approximately $54,000. GAMMA Investing LLC boosted its stake in shares of Hexcel by 34.8% during the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after purchasing an additional 276 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Hexcel during the first quarter valued at approximately $119,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Price Performance

HXL opened at $62.70 on Thursday. The stock has a fifty day simple moving average of $61.64 and a two-hundred day simple moving average of $64.29. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. Research analysts predict that Hexcel Co. will post 2.05 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Hexcel’s payout ratio is presently 51.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HXL. Royal Bank of Canada lowered Hexcel from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Thursday, October 10th. UBS Group dropped their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Finally, Morgan Stanley dropped their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.77.

About Hexcel

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.