Alliancebernstein L.P. Trims Holdings in Hexcel Co. (NYSE:HXL)

Alliancebernstein L.P. trimmed its position in shares of Hexcel Co. (NYSE:HXL - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,563,696 shares of the aerospace company's stock after selling 249,659 shares during the quarter. Alliancebernstein L.P. owned approximately 4.39% of Hexcel worth $223,444,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HXL. Meeder Asset Management Inc. boosted its position in shares of Hexcel by 67,506.8% in the 4th quarter. Meeder Asset Management Inc. now owns 29,747 shares of the aerospace company's stock worth $1,865,000 after buying an additional 29,703 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Hexcel by 876.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 292,760 shares of the aerospace company's stock valued at $18,356,000 after purchasing an additional 262,785 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Hexcel by 61.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company's stock valued at $80,000 after purchasing an additional 486 shares during the last quarter. Heartland Advisors Inc. increased its stake in shares of Hexcel by 10.4% during the 4th quarter. Heartland Advisors Inc. now owns 121,409 shares of the aerospace company's stock worth $7,612,000 after purchasing an additional 11,409 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Hexcel by 13.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,174 shares of the aerospace company's stock worth $826,000 after purchasing an additional 1,607 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HXL shares. Wells Fargo & Company increased their target price on Hexcel from $81.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Truist Financial dropped their price objective on Hexcel from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Royal Bank of Canada upped their target price on shares of Hexcel from $74.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, January 24th. StockNews.com upgraded shares of Hexcel from a "hold" rating to a "buy" rating in a report on Monday, March 17th. Finally, TD Cowen raised shares of Hexcel to a "hold" rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $72.25.

Hexcel Trading Down 6.1 %

HXL traded down $3.11 during trading on Friday, hitting $48.27. 1,614,070 shares of the company's stock were exchanged, compared to its average volume of 967,457. Hexcel Co. has a 1 year low of $46.21 and a 1 year high of $73.58. The stock has a 50 day moving average price of $60.70 and a 200 day moving average price of $61.90. The firm has a market cap of $3.88 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46.

Hexcel (NYSE:HXL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. As a group, analysts expect that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.17 dividend. This is an increase from Hexcel's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 annualized dividend and a yield of 1.41%. Hexcel's dividend payout ratio (DPR) is 42.77%.

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.