Neo Ivy Capital Management Buys New Stake in Hexcel Co. (NYSE:HXL)

Neo Ivy Capital Management purchased a new stake in Hexcel Co. (NYSE:HXL - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,668 shares of the aerospace company's stock, valued at approximately $1,154,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Hexcel by 277.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company's stock worth $105,874,000 after buying an additional 1,246,765 shares during the period. Millennium Management LLC raised its holdings in shares of Hexcel by 307.1% in the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company's stock valued at $67,421,000 after acquiring an additional 814,402 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Hexcel by 215.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company's stock worth $54,034,000 after acquiring an additional 590,975 shares during the period. Ceredex Value Advisors LLC grew its holdings in Hexcel by 280.7% during the 2nd quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company's stock worth $45,107,000 after acquiring an additional 532,550 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Hexcel by 36.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company's stock valued at $98,966,000 after purchasing an additional 425,402 shares during the period. Institutional investors own 95.47% of the company's stock.

Hexcel Stock Performance

NYSE:HXL traded up $0.50 during trading hours on Thursday, hitting $63.89. 1,045,089 shares of the company were exchanged, compared to its average volume of 865,787. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. Hexcel Co. has a 52-week low of $57.50 and a 52-week high of $77.09. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 1.94 and a beta of 1.30. The company's 50 day moving average price is $61.58 and its 200-day moving average price is $62.85.

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 for the quarter, beating analysts' consensus estimates 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 in the previous year, the company earned $0.38 earnings per share. As a group, research analysts forecast 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. Stockholders of record on Friday, November 1st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel's payout ratio is 45.80%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HXL shares. Vertical Research cut shares of Hexcel from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Hexcel from $63.00 to $60.00 and set a "hold" rating on the stock in a research report on Thursday, November 21st. StockNews.com raised Hexcel from a "hold" rating to a "buy" rating in a research report on Wednesday, October 23rd. Truist Financial dropped their price objective on Hexcel from $78.00 to $76.00 and set a "buy" rating on the stock in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on shares of Hexcel from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $70.83.

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.