Jackson Square Partners LLC Sells 94,158 Shares of Hexcel Co. (NYSE:HXL)

Jackson Square Partners LLC lessened its stake in shares of Hexcel Co. (NYSE:HXL - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 333,668 shares of the aerospace company's stock after selling 94,158 shares during the quarter. Hexcel comprises about 2.3% of Jackson Square Partners LLC's investment portfolio, making the stock its 20th biggest holding. Jackson Square Partners LLC owned 0.41% of Hexcel worth $20,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brandes Investment Partners LP grew its holdings in shares of Hexcel by 99.6% in the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company's stock worth $81,803,000 after acquiring an additional 651,062 shares during the period. Thrivent Financial for Lutherans boosted its holdings 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 worth $51,142,000 after buying an additional 582,353 shares during the last quarter. DAVENPORT & Co LLC grew its position in Hexcel by 1,153.9% during the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company's stock valued at $33,546,000 after buying an additional 493,218 shares during the period. American Century Companies Inc. grew its position in Hexcel by 66.9% during the fourth quarter. American Century Companies Inc. now owns 1,198,136 shares of the aerospace company's stock valued at $75,123,000 after buying an additional 480,207 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Hexcel during the fourth quarter valued at approximately $14,148,000. 95.47% of the stock is currently owned by institutional investors.

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Hexcel Trading Down 3.1 %

HXL traded down $1.82 on Friday, hitting $56.28. The company had a trading volume of 777,864 shares, compared to its average volume of 950,556. The business's fifty day simple moving average is $62.23 and its 200 day simple moving average is $62.17. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. Hexcel Co. has a 12-month low of $55.25 and a 12-month high of $73.58. The company has a market cap of $4.57 billion, a PE ratio of 35.40, a PEG ratio of 1.72 and a beta of 1.30.

Hexcel (NYSE:HXL - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 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%. Equities research analysts expect that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Hexcel's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. Hexcel's payout ratio is currently 42.77%.

Analysts Set New Price Targets

HXL has been the subject of a number of recent research reports. StockNews.com raised shares of Hexcel from a "hold" rating to a "buy" rating in a research report on Monday, March 17th. Truist Financial cut their price target on Hexcel from $85.00 to $80.00 and set a "buy" rating for the company in a report on Friday. Royal Bank of Canada lifted their price objective on Hexcel from $74.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. TD Cowen upgraded Hexcel to a "hold" rating in a research note on Monday, February 24th. Finally, Wells Fargo & Company raised their target price on shares of Hexcel from $81.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $72.64.

Hexcel 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.