Norges Bank Takes $60.24 Million Position in Hexcel Co. (NYSE:HXL)

Norges Bank acquired a new stake in shares of Hexcel Co. (NYSE:HXL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 960,788 shares of the aerospace company's stock, valued at approximately $60,241,000. Norges Bank owned approximately 1.18% of Hexcel as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP lifted its stake in Hexcel by 1,069.8% in the 4th quarter. Allworth Financial LP now owns 620 shares of the aerospace company's stock valued at $42,000 after buying an additional 567 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Hexcel during the fourth quarter valued at approximately $49,000. Manchester Capital Management LLC lifted its position in shares of Hexcel by 100.0% in the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company's stock valued at $53,000 after acquiring an additional 420 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Hexcel in the fourth quarter worth approximately $57,000. Finally, GAMMA Investing LLC increased its position in shares of Hexcel by 21.1% during the fourth quarter. GAMMA Investing LLC now owns 1,181 shares of the aerospace company's stock worth $74,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company's stock.

Hexcel Trading Down 0.7 %

Shares of NYSE HXL traded down $0.32 during mid-day trading on Tuesday, reaching $47.39. 1,518,158 shares of the company's stock were exchanged, compared to its average volume of 972,929. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 1.72 and a beta of 1.08. Hexcel Co. has a 52-week low of $45.28 and a 52-week high of $73.58. The company's 50-day moving average is $59.56 and its 200-day moving average is $61.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21.

Hexcel (NYSE:HXL - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. Analysts expect that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.17 dividend. 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 1.44%. Hexcel's payout ratio is presently 42.77%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada raised their price objective on Hexcel from $74.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Barclays lowered their price target on shares of Hexcel from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Wells Fargo & Company cut their price objective on shares of Hexcel from $87.00 to $63.00 and set an "overweight" rating for the company in a report on Tuesday. TD Cowen upgraded Hexcel to a "hold" rating in a report on Monday, February 24th. Finally, StockNews.com upgraded Hexcel from a "hold" rating to a "buy" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $70.25.

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.