Alliancebernstein L.P. Trims Stock Position in Hexcel Co. (NYSE:HXL)

Alliancebernstein L.P. reduced its stake in Hexcel Co. (NYSE:HXL) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,563,696 shares of the aerospace company’s stock after selling 249,659 shares during the quarter. Alliancebernstein L.P. owned 4.39% of Hexcel worth $223,444,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HXL. Norges Bank acquired a new stake in shares of Hexcel in the 4th quarter worth $60,241,000. Brandes Investment Partners LP raised 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 in the last quarter. Thrivent Financial for Lutherans lifted its position in Hexcel by 249.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company’s stock valued at $51,142,000 after purchasing an additional 582,353 shares during the period. DAVENPORT & Co LLC boosted its holdings in Hexcel by 1,153.9% in the 4th quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock valued at $33,546,000 after purchasing an additional 493,218 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Hexcel by 66.9% during the 4th quarter. American Century Companies Inc. now owns 1,198,136 shares of the aerospace company’s stock worth $75,123,000 after purchasing an additional 480,207 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Stock Down 2.8 %

HXL opened at $54.74 on Tuesday. The firm has a market cap of $4.40 billion, a P/E ratio of 34.43, a PEG ratio of 1.72 and a beta of 1.30. The business’s fifty day simple moving average is $62.00 and its 200 day simple moving average is $62.14. Hexcel Co. has a 52 week low of $54.52 and a 52 week high of $73.58. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46.

Hexcel (NYSE:HXL) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. As a group, equities research analysts anticipate that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.17 dividend. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, February 7th. Hexcel’s dividend payout ratio is presently 42.77%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HXL. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Monday, February 24th. Truist Financial decreased their price objective on shares of Hexcel from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a report on Monday, March 17th. Wells Fargo & Company boosted their price target on Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada upped their price target on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.64.

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.