Alberta Investment Management Corp Purchases 24,684 Shares of Hexcel Corporation (NYSE:HXL)

Key Points

• Alberta Investment Management Corp increased its stake in Hexcel Corporation by 160.1%, acquiring an additional 24,684 shares, bringing its total holdings to 40,099 shares valued at approximately $2.2 million.
• Hexcel's stock has received mixed reviews from analysts, with one analyst downgrading it to "hold" while others raised price targets; the average rating now stands at "hold" with a target price of $63.33.
• The company announced a quarterly dividend of $0.17 per share, set to be paid on August 15th, indicating a yield of 1.1% based on its current price.

Alberta Investment Management Corp increased its position in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 160.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,099 shares of the aerospace company's stock after buying an additional 24,684 shares during the period. Alberta Investment Management Corp's holdings in Hexcel were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in shares of Hexcel in the first quarter valued at about $61,000. Parvin Asset Management LLC bought a new stake in Hexcel during the fourth quarter worth about $66,000. Farther Finance Advisors LLC lifted its position in Hexcel by 71.2% during the first quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock worth $66,000 after purchasing an additional 499 shares during the period. Huntington National Bank lifted its position in Hexcel by 21.4% during the fourth quarter. Huntington National Bank now owns 1,159 shares of the aerospace company's stock worth $73,000 after purchasing an additional 204 shares during the period. Finally, Headlands Technologies LLC lifted its position in Hexcel by 62.3% during the fourth quarter. Headlands Technologies LLC now owns 1,305 shares of the aerospace company's stock worth $82,000 after purchasing an additional 501 shares during the period. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Hexcel Price Performance

HXL stock traded up $0.03 during mid-day trading on Tuesday, reaching $60.91. 671,310 shares of the company traded hands, compared to its average volume of 1,308,537. The company has a fifty day moving average price of $57.39 and a 200-day moving average price of $57.31. The company has a market capitalization of $4.85 billion, a P/E ratio of 56.40, a P/E/G ratio of 2.01 and a beta of 1.36. Hexcel Corporation has a 52-week low of $45.28 and a 52-week high of $71.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.69 and a quick ratio of 1.50.

Hexcel (NYSE:HXL - Get Free Report) last posted its earnings results on Thursday, July 24th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The firm had revenue of $489.90 million for the quarter, compared to analysts' expectations of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%. The business's revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. As a group, analysts anticipate that Hexcel Corporation will post 2.14 earnings per share for the current year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Hexcel's dividend payout ratio is presently 62.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $70.00 price objective (up previously from $65.00) on shares of Hexcel in a research report on Monday, July 28th. Wall Street Zen cut shares of Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. Truist Financial cut their price objective on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley increased their target price on shares of Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Finally, UBS Group increased their target price on shares of Hexcel from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Hexcel presently has a consensus rating of "Hold" and a consensus target price of $63.33.

Hexcel Company 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.