Fisher Asset Management LLC Trims Holdings in Hexcel Co. (NYSE:HXL)

Fisher Asset Management LLC reduced its stake in Hexcel Co. (NYSE:HXL) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,419 shares of the aerospace company’s stock after selling 17,155 shares during the quarter. Fisher Asset Management LLC owned approximately 0.10% of Hexcel worth $6,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CENTRAL TRUST Co grew its holdings in shares of Hexcel by 68.1% in the third quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 179 shares during the period. Cetera Trust Company N.A acquired a new position in Hexcel during the 4th quarter worth about $30,000. RiverPark Advisors LLC acquired a new position in Hexcel in the 3rd quarter valued at about $41,000. GAMMA Investing LLC purchased a new stake in Hexcel during the fourth quarter worth about $53,000. Finally, Bleakley Financial Group LLC acquired a new stake in Hexcel during the 4th quarter worth approximately $201,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Hexcel Stock Up 3.3 %

HXL opened at $70.41 on Tuesday. The business has a 50 day moving average price of $69.66 and a two-hundred day moving average price of $69.45. Hexcel Co. has a 52 week low of $58.81 and a 52 week high of $79.08. The company has a market cap of $5.85 billion, a PE ratio of 60.18, a P/E/G ratio of 1.39 and a beta of 1.25. The company has a quick ratio of 1.51, a current ratio of 2.74 and a debt-to-equity ratio of 0.44.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. The firm had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. Hexcel had a return on equity of 8.97% and a net margin of 5.52%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. As a group, research analysts anticipate that Hexcel Co. will post 2.22 EPS for the current year.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.60 annualized dividend and a yield of 0.85%. Hexcel’s dividend payout ratio is currently 51.28%.

Insider Activity at Hexcel

In other Hexcel news, Director Catherine A. Suever bought 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $68.33 per share, with a total value of $27,332.00. Following the purchase, the director now owns 15,748 shares in the company, valued at approximately $1,076,060.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the transaction, the insider now directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Catherine A. Suever bought 400 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $68.33 per share, with a total value of $27,332.00. Following the completion of the acquisition, the director now directly owns 15,748 shares in the company, valued at approximately $1,076,060.84. The disclosure for this purchase can be found here. Insiders bought a total of 43,400 shares of company stock worth $2,820,322 over the last 90 days. Company insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Hexcel from $71.00 to $70.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Truist Financial lowered their price target on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 19th. Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price objective on shares of Hexcel in a report on Wednesday, February 21st. BMO Capital Markets increased their target price on shares of Hexcel from $69.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley cut shares of Hexcel from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $70.00 to $66.00 in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.57.

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.