Envestnet Asset Management Inc. Lowers Stock Holdings in Hexcel Corporation (NYSE:HXL)

Envestnet Asset Management Inc. lowered its position in Hexcel Corporation (NYSE:HXL - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 666,069 shares of the aerospace company's stock after selling 100,138 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.83% of Hexcel worth $36,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Hexcel by 10.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,205 shares of the aerospace company's stock valued at $285,000 after purchasing an additional 492 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Hexcel by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 186,680 shares of the aerospace company's stock valued at $10,223,000 after buying an additional 937 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Hexcel by 95.3% during the 1st quarter. GAMMA Investing LLC now owns 2,306 shares of the aerospace company's stock valued at $126,000 after buying an additional 1,125 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Hexcel in the 1st quarter valued at about $281,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Hexcel by 71.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock valued at $66,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

Hexcel Stock Up 3.0%

Hexcel stock traded up $1.74 during midday trading on Thursday, reaching $60.71. The company's stock had a trading volume of 1,219,415 shares, compared to its average volume of 999,504. Hexcel Corporation has a fifty-two week low of $45.28 and a fifty-two week high of $71.05. The company has a quick ratio of 1.39, a current ratio of 2.59 and a debt-to-equity ratio of 0.51. The company has a market cap of $4.88 billion, a P/E ratio of 40.21, a P/E/G ratio of 1.99 and a beta of 1.28. The business has a 50-day simple moving average of $55.47 and a 200-day simple moving average of $57.71.

Hexcel (NYSE:HXL - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $456.50 million for the quarter, compared to analysts' expectations of $482.18 million. Hexcel had a return on equity of 10.36% and a net margin of 6.60%. During the same period in the previous year, the business posted $0.44 EPS. On average, research analysts expect that Hexcel Corporation will post 2.14 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, May 2nd. Hexcel's dividend payout ratio is currently 45.03%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a report on Thursday. UBS Group lowered their target price on Hexcel from $53.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Barclays reduced 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. Truist Financial cut their target price on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen lowered Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hexcel has a consensus rating of "Hold" and a consensus price target of $59.22.

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.