Quarry LP Has $146,000 Stake in Hexcel Co. (NYSE:HXL)

Quarry LP raised its position in Hexcel Co. (NYSE:HXL) by 358.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,325 shares of the aerospace company’s stock after purchasing an additional 1,818 shares during the quarter. Quarry LP’s holdings in Hexcel were worth $146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HXL. Price T Rowe Associates Inc. MD grew its holdings in shares of Hexcel by 4,372.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,502,676 shares of the aerospace company’s stock valued at $156,919,000 after acquiring an additional 2,446,716 shares in the last quarter. Norges Bank bought a new position in Hexcel during the fourth quarter worth about $60,241,000. Brandes Investment Partners LP grew its holdings 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 period. Thrivent Financial for Lutherans grew its holdings in Hexcel by 249.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company’s stock worth $51,142,000 after purchasing an additional 582,353 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in Hexcel by 1,153.9% during the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock worth $33,546,000 after purchasing an additional 493,218 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HXL. Barclays reduced their price target on Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company reduced their price target on Hexcel from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. TD Cowen upgraded shares of Hexcel to a “hold” rating in a research report on Monday, February 24th. Truist Financial cut their price objective on shares of Hexcel from $73.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada cut their price objective on shares of Hexcel from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.20.

Hexcel Stock Up 0.4 %

NYSE HXL opened at $50.52 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. Hexcel Co. has a 1-year low of $45.28 and a 1-year high of $73.58. The company has a 50 day moving average of $55.39 and a 200-day moving average of $60.64. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.72 and a beta of 1.08.

Hexcel (NYSE:HXL) last released its earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share 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 business had revenue of $456.50 million for the quarter, compared to the consensus estimate of $482.18 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. On average, equities research analysts expect that Hexcel Co. will post 2.14 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, May 2nd. Hexcel’s dividend payout ratio (DPR) is presently 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.