The Manufacturers Life Insurance Company raised its holdings in Hexcel Co. (NYSE:HXL - Free Report) by 52.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 586,217 shares of the aerospace company's stock after buying an additional 200,722 shares during the period. The Manufacturers Life Insurance Company owned 0.72% of Hexcel worth $36,246,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted 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 valued at $105,874,000 after buying an additional 1,246,765 shares during the last quarter. Millennium Management LLC lifted its stake in 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 during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Hexcel by 215.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company's stock valued at $54,034,000 after acquiring an additional 590,975 shares during the period. Ceredex Value Advisors LLC increased its stake in shares of 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 purchasing an additional 532,550 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $98,966,000 after purchasing an additional 425,402 shares during the last quarter. 95.47% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on HXL. Wells Fargo & Company lifted their price target on Hexcel from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Royal Bank of Canada lowered Hexcel from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Truist Financial cut their price target on Hexcel from $78.00 to $76.00 and set a "buy" rating for the company in a report on Friday, October 18th. StockNews.com upgraded shares of Hexcel from a "hold" rating to a "buy" rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Hexcel from $63.00 to $60.00 and set a "hold" rating for the company in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Hexcel has a consensus rating of "Hold" and a consensus price target of $70.58.
Get Our Latest Stock Analysis on Hexcel
Hexcel Price Performance
NYSE:HXL traded up $0.73 during mid-day trading on Friday, reaching $63.39. The stock had a trading volume of 357,037 shares, compared to its average volume of 865,567. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09. The stock has a 50-day simple moving average of $61.17 and a two-hundred day simple moving average of $63.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. The stock has a market capitalization of $5.13 billion, a PE ratio of 48.39, a P/E/G ratio of 1.94 and a beta of 1.30.
Hexcel (NYSE:HXL - Get Free Report) last announced its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The company had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. During the same period in the prior year, the company posted $0.38 EPS. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current year.
Hexcel Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Hexcel's payout ratio is 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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