Harbor Capital Advisors Inc. Raises Stake in Hexcel Co. (NYSE:HXL)

Harbor Capital Advisors Inc. lifted its stake in shares of Hexcel Co. (NYSE:HXL - Free Report) by 115.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,141 shares of the aerospace company's stock after acquiring an additional 13,495 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Hexcel were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Hexcel by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,914,296 shares of the aerospace company's stock worth $576,556,000 after acquiring an additional 67,425 shares during the last quarter. Earnest Partners LLC raised its position in shares of Hexcel by 2.9% during the second quarter. Earnest Partners LLC now owns 4,835,994 shares of the aerospace company's stock worth $302,008,000 after acquiring an additional 136,290 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Hexcel by 277.9% during the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company's stock worth $105,874,000 after acquiring an additional 1,246,765 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hexcel by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,406,287 shares of the aerospace company's stock worth $87,829,000 after acquiring an additional 103,679 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Hexcel by 6.7% during the first quarter. Sei Investments Co. now owns 1,318,541 shares of the aerospace company's stock worth $96,056,000 after purchasing an additional 82,473 shares during the period. 95.47% of the stock is currently owned by institutional investors.

Hexcel Stock Performance

NYSE:HXL traded up $2.47 during trading on Wednesday, reaching $62.42. The company's stock had a trading volume of 978,890 shares, compared to its average volume of 878,097. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 47.65, a price-to-earnings-growth ratio of 1.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. The firm has a 50 day moving average of $61.23 and a 200-day moving average of $64.09. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09.

Hexcel (NYSE:HXL - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The firm had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. During the same quarter in the prior year, the company earned $0.38 EPS. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts expect that Hexcel Co. will post 2.04 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Hexcel's dividend payout ratio is presently 45.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HXL. UBS Group raised their target price on Hexcel from $67.00 to $69.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Truist Financial reduced their price objective on Hexcel from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Friday, October 18th. BMO Capital Markets reduced their price objective on Hexcel from $70.00 to $68.00 and set a "market perform" rating for the company in a research note on Monday, October 28th. Morgan Stanley reduced their price objective on Hexcel from $63.00 to $61.00 and set an "underweight" rating for the company in a research note on Monday, July 22nd. Finally, StockNews.com raised Hexcel from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $71.54.

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.