First Trust Advisors LP Sells 8,435 Shares of Hexcel Co. (NYSE:HXL)

First Trust Advisors LP cut its position in Hexcel Co. (NYSE:HXL - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,880 shares of the aerospace company's stock after selling 8,435 shares during the quarter. First Trust Advisors LP owned about 0.15% of Hexcel worth $7,830,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HXL. Norges Bank bought a new stake in shares of Hexcel during the 4th quarter valued at $60,241,000. Brandes Investment Partners LP increased its position in shares of Hexcel by 99.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company's stock valued at $81,803,000 after buying an additional 651,062 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Hexcel by 249.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company's stock valued at $51,142,000 after buying an additional 582,353 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Hexcel by 1,153.9% in the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company's stock valued at $33,546,000 after acquiring an additional 493,218 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Hexcel by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,198,136 shares of the aerospace company's stock valued at $75,123,000 after acquiring an additional 480,207 shares during the period. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analysts Set New Price Targets

HXL has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Barclays reduced their target price on Hexcel from $75.00 to $68.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Truist Financial decreased their target price on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com downgraded Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. Finally, Morgan Stanley decreased their price objective on shares of Hexcel from $61.00 to $50.00 and set an "underperform" rating on the stock in a research report on Friday, April 11th. One equities 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. According to data from MarketBeat, Hexcel has a consensus rating of "Hold" and an average target price of $61.20.

Hexcel Trading Up 2.3 %

Shares of HXL stock traded up $1.14 on Friday, hitting $49.67. 1,108,031 shares of the company's stock traded hands, compared to its average volume of 957,850. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 1.72 and a beta of 1.08. The company's fifty day simple moving average is $54.29 and its 200 day simple moving average is $60.32. Hexcel Co. has a one year low of $45.28 and a one year high of $73.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21.

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

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, May 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.37%. Hexcel's dividend payout ratio is currently 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.