Jennison Associates LLC Sells 150,360 Shares of Hexcel Co. (NYSE:HXL)

Jennison Associates LLC reduced its position in Hexcel Co. (NYSE:HXL - Free Report) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,034 shares of the aerospace company's stock after selling 150,360 shares during the period. Jennison Associates LLC owned approximately 1.15% of Hexcel worth $71,466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Hexcel in the 4th quarter valued at about $2,362,000. Ceredex Value Advisors LLC lifted its stake in shares of Hexcel by 16.4% in the 4th quarter. Ceredex Value Advisors LLC now owns 217,202 shares of the aerospace company's stock valued at $16,019,000 after purchasing an additional 30,652 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Hexcel by 6.3% in the 3rd quarter. Natixis Advisors L.P. now owns 155,323 shares of the aerospace company's stock valued at $10,118,000 after purchasing an additional 9,242 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Hexcel in the 3rd quarter valued at about $1,283,000. Finally, Public Employees Retirement System of Ohio lifted its position in Hexcel by 73.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 66,141 shares of the aerospace company's stock worth $4,308,000 after acquiring an additional 28,010 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on HXL shares. Bank of America reissued an "underperform" rating and set a $65.00 price target (down from $75.00) on shares of Hexcel in a research report on Wednesday, April 10th. Royal Bank of Canada reissued an "outperform" rating and set a $80.00 price target on shares of Hexcel in a research report on Wednesday, February 21st. Truist Financial reduced their price target on Hexcel from $96.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday. Stifel Nicolaus dropped their price objective on Hexcel from $90.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com downgraded Hexcel from a "buy" rating to a "hold" rating in a report on Saturday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $76.50.

Hexcel Stock Performance

Shares of NYSE HXL traded up $1.02 during trading on Tuesday, reaching $63.54. The stock had a trading volume of 2,794,442 shares, compared to its average volume of 898,752. Hexcel Co. has a one year low of $58.81 and a one year high of $79.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. The stock has a market cap of $5.28 billion, a PE ratio of 51.24, a P/E/G ratio of 1.28 and a beta of 1.23. The firm's 50 day moving average price is $71.02 and its two-hundred day moving average price is $69.52.

Hexcel (NYSE:HXL - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share for the quarter, meeting analysts' consensus estimates of $0.44. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The business had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. During the same period in the previous year, the business earned $0.50 EPS. The business's quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts forecast that Hexcel Co. will post 2.22 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel's dividend payout ratio is presently 48.39%.

Insiders Place Their Bets

In other Hexcel news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the sale, the insider now directly owns 50,371 shares of the company's stock, valued at $3,608,074.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now directly owns 3,375 shares of the company's stock, valued at $243,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thierry Merlot sold 4,500 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now directly owns 50,371 shares in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. 1.85% of the stock is owned by corporate insiders.

Hexcel Company 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.