Nuveen Asset Management LLC Cuts Stock Position in Hexcel Co. (NYSE:HXL)

Nuveen Asset Management LLC trimmed its position in shares of Hexcel Co. (NYSE:HXL - Free Report) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 266,940 shares of the aerospace company's stock after selling 162,686 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.33% of Hexcel worth $16,737,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Numerai GP LLC boosted its stake in shares of Hexcel by 47.1% during the fourth quarter. Numerai GP LLC now owns 25,293 shares of the aerospace company's stock valued at $1,586,000 after purchasing an additional 8,094 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Hexcel during the fourth quarter valued at about $369,000. Lazard Asset Management LLC acquired a new stake in shares of Hexcel during the fourth quarter valued at about $146,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Hexcel during the fourth quarter valued at about $4,076,000. Finally, Invenomic Capital Management LP acquired a new stake in shares of Hexcel during the fourth quarter valued at about $3,911,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen raised Hexcel to a "hold" rating in a research note on Monday, February 24th. Wall Street Zen downgraded Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. Royal Bank of Canada lowered their price objective on Hexcel from $70.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. UBS Group lowered their price objective on Hexcel from $53.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial lowered their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $61.20.

Hexcel Trading Up 3.5%

HXL stock traded up $1.80 during mid-day trading on Thursday, reaching $53.43. The company's stock had a trading volume of 365,067 shares, compared to its average volume of 966,541. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. The business's 50 day moving average price is $52.17 and its 200 day moving average price is $59.17. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. Hexcel Co. has a 12 month low of $45.28 and a 12 month high of $71.05.

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

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors 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 dividend yield of 1.27%. 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.