Van ECK Associates Corp increased its stake in Hexcel Co. (NYSE:HXL - Free Report) by 308.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,001 shares of the aerospace company's stock after purchasing an additional 24,920 shares during the period. Van ECK Associates Corp's holdings in Hexcel were worth $2,069,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hexcel by 36.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company's stock worth $98,966,000 after purchasing an additional 425,402 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hexcel by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,060,727 shares of the aerospace company's stock valued at $65,585,000 after acquiring an additional 10,479 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in Hexcel by 34.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 973,352 shares of the aerospace company's stock valued at $60,182,000 after acquiring an additional 251,062 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Hexcel by 52.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 586,217 shares of the aerospace company's stock valued at $36,246,000 after acquiring an additional 200,722 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Hexcel by 12.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company's stock valued at $35,957,000 after acquiring an additional 63,730 shares in the last quarter. Institutional investors own 95.47% of the company's stock.
Hexcel Price Performance
Shares of NYSE HXL traded down $1.40 during mid-day trading on Friday, reaching $62.68. The company had a trading volume of 695,195 shares, compared to its average volume of 1,174,985. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.09 billion, a PE ratio of 39.42, a P/E/G ratio of 1.86 and a beta of 1.31. The company has a 50-day moving average price of $64.91 and a two-hundred day moving average price of $62.79. Hexcel Co. has a 1-year low of $57.50 and a 1-year high of $77.09.
Hexcel (NYSE:HXL - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. On average, equities analysts anticipate that Hexcel Co. will post 2.14 earnings per share for the current year.
Hexcel Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost from Hexcel's previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 7th. Hexcel's payout ratio is presently 42.77%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on HXL. Truist Financial lifted their target price on Hexcel from $76.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 24th. StockNews.com downgraded Hexcel from a "buy" rating to a "hold" rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on Hexcel from $74.00 to $82.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on Hexcel from $81.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, BMO Capital Markets cut their target price on Hexcel from $70.00 to $68.00 and set a "market perform" rating on the stock in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Hexcel has a consensus rating of "Hold" and an average target price of $73.09.
Check Out Our Latest Stock Analysis on HXL
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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