Bessemer Group Inc. Trims Stake in Hexcel Co. (NYSE:HXL)

Bessemer Group Inc. lessened its stake in Hexcel Co. (NYSE:HXL) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,579 shares of the aerospace company’s stock after selling 977 shares during the period. Bessemer Group Inc.’s holdings in Hexcel were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HXL. Barclays PLC grew its position in Hexcel by 32.1% during the third quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after buying an additional 17,011 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hexcel by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock worth $68,021,000 after buying an additional 24,133 shares during the period. Kopion Asset Management LLC lifted its position in shares of Hexcel by 11.2% during the 4th quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock valued at $6,142,000 after buying an additional 9,861 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Hexcel in the 4th quarter worth $242,000. Finally, Oak Thistle LLC increased its holdings in Hexcel by 303.5% in the 4th quarter. Oak Thistle LLC now owns 19,169 shares of the aerospace company’s stock worth $1,202,000 after acquiring an additional 14,418 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Hexcel Stock Performance

NYSE:HXL opened at $52.23 on Wednesday. The stock has a market capitalization of $4.20 billion, a P/E ratio of 32.85, a PEG ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. Hexcel Co. has a fifty-two week low of $45.28 and a fifty-two week high of $73.58. The company has a 50 day moving average price of $58.08 and a 200 day moving average price of $61.24.

Hexcel (NYSE:HXL) last issued its quarterly 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%. Equities research analysts forecast that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.17 dividend. The ex-dividend date was Friday, February 7th. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. Hexcel’s dividend payout ratio (DPR) is 42.77%.

Wall Street Analysts Forecast Growth

HXL has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of Hexcel from $61.00 to $50.00 and set an “underperform” rating on the stock in a research report on Friday, April 11th. Barclays cut their price objective on Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Truist Financial lowered their price target on Hexcel from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. TD Cowen upgraded Hexcel to a “hold” rating in a report on Monday, February 24th. Finally, StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Hexcel has a consensus rating of “Hold” and an average price target of $69.00.

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.