Vestmark Advisory Solutions Inc. Takes $263,000 Position in Hexcel Co. (NYSE:HXL)

Vestmark Advisory Solutions Inc. purchased a new stake in shares of Hexcel Co. (NYSE:HXL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,188 shares of the aerospace company’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HXL. DAVENPORT & Co LLC raised its holdings in Hexcel by 1,153.9% in the 4th quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock worth $33,546,000 after acquiring an additional 493,218 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Hexcel by 36.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock worth $98,966,000 after acquiring an additional 425,402 shares during the period. TimesSquare Capital Management LLC bought a new position in Hexcel in the 4th quarter worth $14,148,000. The Manufacturers Life Insurance Company raised its holdings in Hexcel by 52.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 586,217 shares of the aerospace company’s stock worth $36,246,000 after acquiring an additional 200,722 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Hexcel by 588.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 205,458 shares of the aerospace company’s stock worth $12,704,000 after acquiring an additional 175,608 shares during the period. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Performance

NYSE HXL opened at $58.30 on Monday. The stock has a market cap of $4.73 billion, a P/E ratio of 36.67, a PEG ratio of 1.72 and a beta of 1.30. The company’s 50-day simple moving average is $64.47 and its 200 day simple moving average is $62.72. Hexcel Co. has a twelve month low of $56.85 and a twelve month high of $77.08. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46.

Hexcel (NYSE:HXL) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. As a group, research analysts forecast that Hexcel Co. will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.17 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. This is a boost from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is presently 42.77%.

Analyst Ratings Changes

Several brokerages recently commented on HXL. Wells Fargo & Company lifted their target price on shares of Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. TD Cowen upgraded shares of Hexcel to a “hold” rating in a report on Monday, February 24th. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada upped their price objective on shares of Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Truist Financial upped their price objective on shares of Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Hexcel currently has an average rating of “Hold” and a consensus target price of $73.09.

About Hexcel

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.