Connor Clark & Lunn Investment Management Ltd. cut its stake in Hexcel Corporation (NYSE:HXL - Free Report) by 24.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,217 shares of the aerospace company's stock after selling 21,618 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Hexcel worth $3,571,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Hexcel during the 1st quarter worth $61,000. Parvin Asset Management LLC acquired a new position in shares of Hexcel during the 4th quarter worth $66,000. Farther Finance Advisors LLC raised its holdings in shares of Hexcel by 71.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock worth $66,000 after buying an additional 499 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Hexcel by 95.3% in the 1st quarter. GAMMA Investing LLC now owns 2,306 shares of the aerospace company's stock valued at $126,000 after acquiring an additional 1,125 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hexcel by 698.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,356 shares of the aerospace company's stock valued at $129,000 after acquiring an additional 2,061 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.
Hexcel Trading Down 0.5%
Shares of Hexcel stock traded down $0.31 on Monday, hitting $61.43. 141,559 shares of the company's stock traded hands, compared to its average volume of 1,183,579. Hexcel Corporation has a one year low of $45.28 and a one year 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. The company has a fifty day moving average of $58.70 and a two-hundred day moving average of $56.93. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 56.89, a price-to-earnings-growth ratio of 2.05 and a beta of 1.36.
Hexcel (NYSE:HXL - Get Free Report) last announced its earnings results on Thursday, July 24th. The aerospace company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $489.90 million for the quarter, compared to analyst estimates of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, sell-side analysts expect that Hexcel Corporation will post 2.14 earnings per share for the current year.
Hexcel Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 8th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 8th. Hexcel's dividend payout ratio (DPR) is currently 62.96%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Wall Street Zen cut Hexcel from a "buy" rating to a "hold" rating in a report on Sunday, April 27th. BMO Capital Markets upped their target price on Hexcel from $52.00 to $67.00 and gave the stock a "market perform" rating in a report on Tuesday, July 29th. UBS Group upped their target price on Hexcel from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $70.00 target price (up previously from $65.00) on shares of Hexcel in a report on Monday, July 28th. Finally, Truist Financial lowered their target price on Hexcel from $73.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Hexcel has a consensus rating of "Hold" and an average target price of $63.33.
View Our Latest Report on HXL
Hexcel Company Profile
(
Free Report)
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.
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