Brandes Investment Partners LP Purchases 651,062 Shares of Hexcel Co. (NYSE:HXL)

Brandes Investment Partners LP increased its holdings in shares of Hexcel Co. (NYSE:HXL - Free Report) by 99.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,304,669 shares of the aerospace company's stock after purchasing an additional 651,062 shares during the quarter. Brandes Investment Partners LP owned 1.61% of Hexcel worth $81,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aviso Financial Inc. bought a new position in shares of Hexcel during the fourth quarter valued at $851,000. HighTower Advisors LLC lifted its holdings in shares of Hexcel by 1.8% during the fourth quarter. HighTower Advisors LLC now owns 19,069 shares of the aerospace company's stock valued at $1,196,000 after purchasing an additional 339 shares in the last quarter. Channing Capital Management LLC lifted its holdings in shares of Hexcel by 10.3% during the fourth quarter. Channing Capital Management LLC now owns 1,128,681 shares of the aerospace company's stock valued at $70,768,000 after purchasing an additional 105,510 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hexcel by 13.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,354 shares of the aerospace company's stock valued at $1,276,000 after purchasing an additional 2,487 shares in the last quarter. Finally, Amundi increased its position in Hexcel by 24.9% during the fourth quarter. Amundi now owns 140,060 shares of the aerospace company's stock valued at $9,080,000 after acquiring an additional 27,943 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

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Hexcel Stock Performance

HXL traded up $0.96 during midday trading on Wednesday, reaching $57.90. The company had a trading volume of 943,209 shares, compared to its average volume of 904,677. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. Hexcel Co. has a 1 year low of $55.25 and a 1 year high of $73.58. The business has a 50-day moving average of $63.56 and a two-hundred day moving average of $62.37. The company has a market cap of $4.70 billion, a P/E ratio of 36.42, a P/E/G ratio of 1.72 and a beta of 1.30.

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

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. This is a boost from Hexcel's previous quarterly dividend of $0.15. Hexcel's dividend payout ratio (DPR) is currently 42.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HXL. Wells Fargo & Company upped their price objective on Hexcel from $81.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. StockNews.com upgraded Hexcel from a "hold" rating to a "buy" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on Hexcel from $63.00 to $60.00 and set a "hold" rating for the company in a research report on Thursday, November 21st. Truist Financial upped their price objective on Hexcel from $76.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, TD Cowen upgraded Hexcel to a "hold" rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $73.09.

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.