AlphaQuest LLC Lowers Holdings in Hexcel Co. (NYSE:HXL)

AlphaQuest LLC lowered its position in shares of Hexcel Co. (NYSE:HXL - Free Report) by 75.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,928 shares of the aerospace company's stock after selling 8,960 shares during the period. AlphaQuest LLC's holdings in Hexcel were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HXL. DAVENPORT & Co LLC raised its stake in shares of Hexcel by 1,153.9% in the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company's stock worth $33,546,000 after purchasing an additional 493,218 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Hexcel by 36.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company's stock valued at $98,966,000 after acquiring an additional 425,402 shares during the period. TimesSquare Capital Management LLC bought a new position in Hexcel during the fourth quarter valued at approximately $14,148,000. The Manufacturers Life Insurance Company boosted its holdings in Hexcel by 52.1% in the third quarter. The Manufacturers Life Insurance Company now owns 586,217 shares of the aerospace company's stock worth $36,246,000 after purchasing an additional 200,722 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Hexcel by 588.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 205,458 shares of the aerospace company's stock worth $12,704,000 after purchasing an additional 175,608 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Hexcel from $74.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Truist Financial boosted their price target on Hexcel from $76.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 24th. TD Cowen upgraded shares of Hexcel to a "hold" rating in a research note on Monday, February 24th. Wells Fargo & Company raised their price objective on shares of Hexcel from $81.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hexcel from $63.00 to $60.00 and set a "hold" rating on the stock in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $73.09.

Hexcel Price Performance

Hexcel stock traded down $1.02 during mid-day trading on Thursday, hitting $56.83. The stock had a trading volume of 563,449 shares, compared to its average volume of 905,315. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm's 50 day moving average is $63.42 and its 200 day moving average is $62.34. The firm has a market capitalization of $4.61 billion, a P/E ratio of 35.74, a P/E/G ratio of 1.72 and a beta of 1.30. Hexcel Co. has a one year low of $55.25 and a one year high of $73.58.

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

Hexcel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a dividend of $0.17 per share. This is a positive change from Hexcel's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, February 7th. Hexcel's payout ratio is currently 42.77%.

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.