Arrowstreet Capital Limited Partnership Acquires 262,785 Shares of Hexcel Co. (NYSE:HXL)

Arrowstreet Capital Limited Partnership raised its holdings in shares of Hexcel Co. (NYSE:HXL - Free Report) by 876.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 292,760 shares of the aerospace company's stock after purchasing an additional 262,785 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.36% of Hexcel worth $18,356,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in HXL. Brown Brothers Harriman & Co. grew its stake in shares of Hexcel by 61.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company's stock worth $80,000 after acquiring an additional 486 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in Hexcel by 10.4% in the fourth quarter. Heartland Advisors Inc. now owns 121,409 shares of the aerospace company's stock valued at $7,612,000 after acquiring an additional 11,409 shares during the period. Pictet Asset Management Holding SA boosted its holdings in Hexcel by 13.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,174 shares of the aerospace company's stock worth $826,000 after buying an additional 1,607 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Hexcel during the 4th quarter worth about $412,000. Finally, Norges Bank acquired a new stake in Hexcel in the fourth quarter valued at approximately $60,241,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen raised Hexcel to a "hold" rating in a research note on Monday, February 24th. Royal Bank of Canada upped their price objective on Hexcel from $74.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Barclays lowered their target price on shares of Hexcel from $75.00 to $68.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Truist Financial cut their price objective on Hexcel from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Wells Fargo & Company reduced their target price on shares of Hexcel from $87.00 to $63.00 and set an "overweight" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $70.25.

Hexcel Stock Up 12.3 %

Shares of NYSE HXL traded up $5.82 during midday trading on Wednesday, reaching $53.31. 1,569,432 shares of the company's stock were exchanged, compared to its average volume of 975,213. The business's fifty day moving average price is $59.06 and its two-hundred day moving average price is $61.50. Hexcel Co. has a 52-week low of $45.28 and a 52-week high of $73.58. The stock has a market capitalization of $4.29 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21.

Hexcel (NYSE:HXL - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. Analysts forecast that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, February 7th. This is a positive change from Hexcel's previous quarterly dividend of $0.15. Hexcel's dividend payout ratio (DPR) is currently 42.77%.

Hexcel 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.