Mackenzie Financial Corp Invests $437,000 in Hexcel Co. (NYSE:HXL)

Mackenzie Financial Corp purchased a new position in Hexcel Co. (NYSE:HXL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,971 shares of the aerospace company's stock, valued at approximately $437,000.

A number of other hedge funds also recently modified their holdings of the stock. Allworth Financial LP raised its holdings in Hexcel by 1,069.8% during 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 period. Arcadia Investment Management Corp MI bought a new position in shares of Hexcel in the fourth quarter worth $49,000. Manchester Capital Management LLC increased its holdings 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 worth $53,000 after purchasing an additional 420 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Hexcel in the fourth quarter worth $57,000. Finally, Parvin Asset Management LLC bought a new position in shares of Hexcel in the fourth quarter worth $66,000. Institutional investors own 95.47% of the company's stock.

Hexcel Trading Up 1.0%

NYSE HXL traded up $0.53 during trading on Friday, hitting $56.38. 1,181,783 shares of the company's stock traded hands, compared to its average volume of 990,994. The stock has a fifty day moving average of $51.86 and a two-hundred day moving average of $58.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20. Hexcel Co. has a 12-month low of $45.28 and a 12-month high of $71.05. The firm has a market cap of $4.53 billion, a P/E ratio of 35.46, a PEG ratio of 1.72 and a beta of 1.29.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). Hexcel had a net margin of 6.94% and a return on equity of 10.66%. The business had revenue of $456.50 million for the quarter, compared to analysts' expectations of $482.18 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. As a group, sell-side analysts expect that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.68 annualized dividend and a yield of 1.21%. Hexcel's payout ratio is 45.03%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Hexcel from a "buy" rating to a "hold" rating in a report on Sunday, April 27th. Barclays decreased their price target on shares of Hexcel from $75.00 to $68.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. BMO Capital Markets decreased their price target on shares of Hexcel from $72.00 to $52.00 and set a "market perform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial decreased their price target on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their target price on Hexcel from $70.00 to $62.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.20.

About Hexcel

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.