Invenomic Capital Management LP Takes $3.91 Million Position in Hexcel Co. (NYSE:HXL)

Invenomic Capital Management LP purchased a new position in shares of Hexcel Co. (NYSE:HXL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,376 shares of the aerospace company's stock, valued at approximately $3,911,000. Invenomic Capital Management LP owned approximately 0.08% of Hexcel at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HXL. Allworth Financial LP boosted its position in Hexcel by 1,069.8% in the fourth quarter. Allworth Financial LP now owns 620 shares of the aerospace company's stock worth $42,000 after purchasing an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Hexcel in the fourth quarter worth $49,000. Manchester Capital Management LLC boosted its position in Hexcel by 100.0% in the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company's stock worth $53,000 after purchasing an additional 420 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Hexcel in the fourth quarter worth $57,000. Finally, Parvin Asset Management LLC purchased a new position in shares of Hexcel during the 4th quarter valued at $66,000. Institutional investors own 95.47% of the company's stock.

Hexcel Price Performance

Shares of Hexcel stock traded up $0.60 during trading on Friday, hitting $54.65. 857,300 shares of the stock traded hands, compared to its average volume of 963,759. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 1.72 and a beta of 1.28. The firm's fifty day moving average is $52.85 and its 200-day moving average is $59.60. Hexcel Co. has a 52 week low of $45.28 and a 52 week high of $72.24.

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

Hexcel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, May 2nd. Hexcel's dividend payout ratio (DPR) is currently 45.03%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HXL. Morgan Stanley dropped their price target on Hexcel from $61.00 to $50.00 and set an "underperform" rating on the stock in a research report on Friday, April 11th. Truist Financial decreased their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. UBS Group decreased their price objective on Hexcel from $53.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, StockNews.com lowered Hexcel from a "buy" rating to a "hold" rating in a research note on Sunday, April 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $61.20.

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.