Massachusetts Financial Services Co. MA grew its holdings in Hexcel Co. (NYSE:HXL - Free Report) by 36.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,600,619 shares of the aerospace company's stock after purchasing an additional 425,402 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.98% of Hexcel worth $98,966,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its stake in Hexcel by 277.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company's stock valued at $105,874,000 after purchasing an additional 1,246,765 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Hexcel by 307.1% during the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company's stock worth $67,421,000 after buying an additional 814,402 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Hexcel by 215.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company's stock valued at $54,034,000 after buying an additional 590,975 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of Hexcel by 280.7% during the second quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company's stock valued at $45,107,000 after buying an additional 532,550 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Hexcel by 151.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company's stock worth $25,086,000 after acquiring an additional 207,434 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on HXL. Truist Financial reduced their price target on Hexcel from $78.00 to $76.00 and set a "buy" rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada downgraded Hexcel from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Vertical Research cut Hexcel from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a report on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of Hexcel from $77.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Hexcel from $63.00 to $60.00 and set a "hold" rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Hexcel has a consensus rating of "Hold" and a consensus target price of $71.31.
Check Out Our Latest Research Report on Hexcel
Hexcel Stock Performance
HXL stock traded up $1.67 during midday trading on Friday, reaching $61.19. The company had a trading volume of 891,073 shares, compared to its average volume of 795,966. The firm has a market capitalization of $4.96 billion, a PE ratio of 46.71, a P/E/G ratio of 1.76 and a beta of 1.30. The stock has a 50 day moving average price of $60.97 and a 200 day moving average price of $63.54. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09. 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 issued its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The firm's revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current year.
Hexcel Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were given a $0.15 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.98%. Hexcel's dividend payout ratio is presently 45.80%.
About Hexcel
(
Free Report)
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.
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