Van ECK Associates Corp Boosts Holdings in Hexcel Co. (NYSE:HXL)

Van ECK Associates Corp raised its holdings in shares of Hexcel Co. (NYSE:HXL) by 52.4% in the third quarter, Holdings Channel reports. The institutional investor owned 8,081 shares of the aerospace company’s stock after acquiring an additional 2,780 shares during the period. Van ECK Associates Corp’s holdings in Hexcel were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Hexcel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 7,914,296 shares of the aerospace company’s stock worth $576,556,000 after purchasing an additional 67,425 shares in the last quarter. Earnest Partners LLC increased its position in Hexcel by 2.9% in the second quarter. Earnest Partners LLC now owns 4,835,994 shares of the aerospace company’s stock worth $302,008,000 after buying an additional 136,290 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Hexcel by 277.9% in the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock worth $105,874,000 after buying an additional 1,246,765 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Hexcel by 8.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,406,287 shares of the aerospace company’s stock valued at $87,829,000 after buying an additional 103,679 shares in the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of Hexcel by 12.5% during the 3rd quarter. Copeland Capital Management LLC now owns 1,161,415 shares of the aerospace company’s stock valued at $71,810,000 after acquiring an additional 129,335 shares during the period. 95.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HXL has been the topic of several analyst reports. BMO Capital Markets lowered their price target on shares of Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Monday, October 28th. Truist Financial cut their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Hexcel from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.54.

Hexcel Stock Down 1.1 %

Shares of NYSE HXL opened at $61.27 on Wednesday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 46.77, a P/E/G ratio of 1.82 and a beta of 1.30. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $61.12 and its 200-day moving average price is $64.02.

Hexcel (NYSE:HXL) last announced its earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a return on equity of 9.99% and a net margin of 5.73%. The firm had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same quarter in the previous year, the business earned $0.38 EPS. The company’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 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were issued a $0.15 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.98%. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Hexcel Company 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.