Balyasny Asset Management L.P. Takes Position in Hexcel Co. (NYSE:HXL)

Balyasny Asset Management L.P. bought a new stake in Hexcel Co. (NYSE:HXL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 237,483 shares of the aerospace company's stock, valued at approximately $14,890,000. Balyasny Asset Management L.P. owned approximately 0.29% of Hexcel at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted its stake in shares of 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 acquiring an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Hexcel in the fourth quarter valued at about $49,000. Manchester Capital Management LLC boosted its stake in shares of Hexcel by 100.0% during the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company's stock valued at $53,000 after purchasing an additional 420 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Hexcel during the fourth quarter worth about $57,000. Finally, Parvin Asset Management LLC acquired a new position in shares of Hexcel in the fourth quarter valued at approximately $66,000. Institutional investors own 95.47% of the company's stock.

Analyst Ratings Changes

HXL has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Hexcel from $61.00 to $50.00 and set an "underperform" rating on the stock in a report on Friday, April 11th. Truist Financial reduced their price objective on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. BMO Capital Markets lowered their target price on Hexcel from $72.00 to $52.00 and set a "market perform" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Hexcel from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Barclays lowered their price objective on Hexcel from $75.00 to $68.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $61.20.

Hexcel Trading Down 0.3 %

HXL stock traded down $0.18 during mid-day trading on Friday, reaching $51.72. The company's stock had a trading volume of 1,022,369 shares, compared to its average volume of 953,475. Hexcel Co. has a 12 month low of $45.28 and a 12 month high of $73.24. 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 business's 50 day moving average price is $53.24 and its 200 day moving average price is $59.86. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28.

Hexcel (NYSE:HXL - Get Free Report) last released its earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). Hexcel had a net margin of 6.94% and a return on equity of 10.66%. The company had revenue of $456.50 million for the quarter, compared to analyst estimates of $482.18 million. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, equities research analysts predict that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, May 2nd. Hexcel's payout ratio is 45.03%.

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.