Nordea Investment Management AB Has $1.38 Million Stock Position in Hexcel Co. (NYSE:HXL)

Nordea Investment Management AB lowered its position in shares of Hexcel Co. (NYSE:HXL) by 4.4% during the fourth quarter, HoldingsChannel reports. The fund owned 21,869 shares of the aerospace company’s stock after selling 1,005 shares during the quarter. Nordea Investment Management AB’s holdings in Hexcel were worth $1,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HXL. True Wealth Design LLC bought a new stake in shares of Hexcel in the 3rd quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new stake in Hexcel in the third quarter valued at approximately $56,000. First Horizon Advisors Inc. grew its stake in Hexcel by 53.8% in the third quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock valued at $58,000 after acquiring an additional 326 shares during the period. Huntington National Bank grew its stake in Hexcel by 30.8% in the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 225 shares during the period. Finally, Eastern Bank bought a new position in shares of Hexcel in the third quarter valued at approximately $62,000. Institutional investors own 95.47% of the company’s stock.

Hexcel Price Performance

Hexcel stock opened at $64.46 on Monday. Hexcel Co. has a 52 week low of $57.50 and a 52 week high of $77.09. The business has a 50-day simple moving average of $62.41 and a 200 day simple moving average of $62.44. The company has a quick ratio of 1.51, a current ratio of 2.76 and a debt-to-equity ratio of 0.51. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 1.97 and a beta of 1.30.

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

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, November 1st. Hexcel’s payout ratio is currently 45.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Hexcel from $78.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada upgraded Hexcel from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $74.00 in a report on Thursday, December 19th. BMO Capital Markets dropped their price target on Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday, October 28th. Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Thursday, October 10th. Finally, Truist Financial lowered their target price on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Hexcel has a consensus rating of “Hold” and an average target price of $71.33.

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.