BlackDiamond Wealth Management LLC Decreases Position in Hexcel Co. (NYSE:HXL)

BlackDiamond Wealth Management LLC decreased its holdings in shares of Hexcel Co. (NYSE:HXL) by 16.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,859 shares of the aerospace company’s stock after selling 1,304 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Hexcel were worth $430,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in Hexcel by 36.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock worth $98,966,000 after purchasing an additional 425,402 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Hexcel by 99.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company’s stock worth $81,803,000 after purchasing an additional 651,062 shares during the last quarter. Channing Capital Management LLC lifted its stake in Hexcel by 10.3% during the fourth quarter. Channing Capital Management LLC now owns 1,128,681 shares of the aerospace company’s stock worth $70,768,000 after purchasing an additional 105,510 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Hexcel by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock valued at $68,021,000 after buying an additional 24,133 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Hexcel by 10.4% in the fourth quarter. Bank of New York Mellon Corp now owns 751,881 shares of the aerospace company’s stock valued at $47,143,000 after buying an additional 70,533 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Trading Up 1.3 %

Shares of HXL stock opened at $57.19 on Tuesday. The business’s fifty day moving average price is $63.71 and its 200 day moving average price is $62.42. Hexcel Co. has a 1-year low of $55.25 and a 1-year high of $73.58. The firm has a market capitalization of $4.64 billion, a PE ratio of 35.97, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20.

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

Hexcel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, February 7th. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is currently 42.77%.

Wall Street Analyst Weigh In

HXL has been the subject of a number of research reports. Wells Fargo & Company boosted their price objective on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada boosted their price objective on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Truist Financial boosted their price objective on Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 24th. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.