Intech Investment Management LLC Buys 66,943 Shares of Hexcel Co. (NYSE:HXL)

Intech Investment Management LLC raised its holdings in Hexcel Co. (NYSE:HXL - Free Report) by 928.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,151 shares of the aerospace company's stock after buying an additional 66,943 shares during the quarter. Intech Investment Management LLC owned 0.09% of Hexcel worth $4,585,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HXL. Capital Performance Advisors LLP bought a new position in Hexcel in the third quarter valued at approximately $56,000. First Horizon Advisors Inc. increased its position in Hexcel by 53.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company's stock valued at $58,000 after purchasing an additional 326 shares during the period. Huntington National Bank boosted its holdings in shares of Hexcel by 30.8% during the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company's stock worth $59,000 after buying an additional 225 shares in the last quarter. Eastern Bank bought a new position in shares of Hexcel in the 3rd quarter worth $62,000. Finally, GAMMA Investing LLC raised its position in Hexcel by 34.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company's stock valued at $67,000 after buying an additional 276 shares during the last quarter. Institutional investors own 95.47% of the company's stock.

Hexcel Stock Performance

Shares of NYSE HXL traded up $1.67 during mid-day trading on Friday, reaching $61.19. 891,073 shares of the company were exchanged, compared to its average volume of 795,966. Hexcel Co. has a twelve month low of $57.50 and a twelve month high of $77.09. The stock has a market capitalization of $4.96 billion, a P/E ratio of 46.71, a P/E/G ratio of 1.76 and a beta of 1.30. The company's 50-day simple moving average is $60.97 and its 200-day simple moving average is $63.66. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL - Get Free Report) last released its earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. As a group, research analysts predict that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a dividend of $0.15 per share. The ex-dividend date was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. Hexcel's dividend payout ratio (DPR) is presently 45.80%.

Analyst Upgrades and Downgrades

Several brokerages have commented on HXL. Truist Financial cut their target price on Hexcel from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Friday, October 18th. Vertical Research cut Hexcel from a "buy" rating to a "hold" rating and set a $65.00 target price for the company. in a research report on Thursday, October 10th. Royal Bank of Canada lowered Hexcel from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. StockNews.com upgraded Hexcel from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on Hexcel from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $71.31.

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.