CenterBook Partners LP Takes $1.40 Million Position in Hexcel Co. (NYSE:HXL)

CenterBook Partners LP bought a new stake in Hexcel Co. (NYSE:HXL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,282 shares of the aerospace company's stock, valued at approximately $1,397,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Hexcel during the 4th quarter worth $60,241,000. Brandes Investment Partners LP grew its position in Hexcel by 99.6% in the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company's stock valued at $81,803,000 after purchasing an additional 651,062 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Hexcel by 249.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company's stock valued at $51,142,000 after buying an additional 582,353 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Hexcel by 1,153.9% in the 4th quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company's stock valued at $33,546,000 after purchasing an additional 493,218 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Hexcel by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,198,136 shares of the aerospace company's stock valued at $75,123,000 after acquiring an additional 480,207 shares during the period. 95.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

HXL has been the topic of several recent research reports. StockNews.com cut shares of Hexcel from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Morgan Stanley reduced their price objective on shares of Hexcel from $61.00 to $50.00 and set an "underperform" rating on the stock in a research note on Friday, April 11th. TD Cowen raised shares of Hexcel to a "hold" rating in a research note on Monday, February 24th. Truist Financial reduced their price objective on shares of Hexcel from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Barclays decreased their target price on Hexcel from $75.00 to $68.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $69.00.

Hexcel Stock Performance

Hexcel stock traded down $0.04 during mid-day trading on Wednesday, reaching $52.16. 191,729 shares of the company traded hands, compared to its average volume of 1,149,690. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 32.81, 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 current ratio of 2.21 and a quick ratio of 1.20. The firm's fifty day moving average is $58.08 and its two-hundred day moving average is $61.24. Hexcel Co. has a fifty-two week low of $45.28 and a fifty-two week high of $73.58.

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

Hexcel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, February 7th. This is a boost from Hexcel's previous quarterly dividend of $0.15. Hexcel's dividend payout ratio (DPR) 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.