Healthcare of Ontario Pension Plan Trust Fund Takes $1.63 Million Position in Hexcel Co. (NYSE:HXL)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Hexcel Co. (NYSE:HXL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,433 shares of the aerospace company’s stock, valued at approximately $1,634,000.

A number of other hedge funds also recently bought and sold shares of the business. Glenmede Trust Co. NA grew its stake in shares of Hexcel by 6.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,375 shares of the aerospace company’s stock worth $641,000 after buying an additional 587 shares in the last quarter. FMR LLC grew its position in Hexcel by 11.7% in the third quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock worth $4,791,000 after acquiring an additional 8,135 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Hexcel by 52.1% during the third 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 last quarter. Fisher Asset Management LLC lifted its stake in shares of Hexcel by 9.0% in the 3rd quarter. Fisher Asset Management LLC now owns 92,441 shares of the aerospace company’s stock valued at $5,716,000 after purchasing an additional 7,626 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Hexcel by 36.1% in the 3rd quarter. Cerity Partners LLC now owns 54,468 shares of the aerospace company’s stock valued at $3,368,000 after purchasing an additional 14,455 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. BMO Capital Markets reduced their target price on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Monday, October 28th. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Truist Financial decreased their price objective on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $70.58.

Hexcel Price Performance

HXL opened at $63.39 on Monday. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.96 and a beta of 1.30. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09. The business’s fifty day simple moving average is $61.17 and its 200-day simple moving average is $63.27.

Hexcel (NYSE:HXL) last issued its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. Hexcel’s dividend payout ratio is currently 45.80%.

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.