Pinebridge Investments L.P. Purchases 9,853 Shares of Hexcel Co. (NYSE:HXL)

Pinebridge Investments L.P. increased its holdings in Hexcel Co. (NYSE:HXL) by 42.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,920 shares of the aerospace company’s stock after buying an additional 9,853 shares during the period. Pinebridge Investments L.P.’s holdings in Hexcel were worth $2,064,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its position in shares of Hexcel by 1,069.8% during the 4th quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock valued at $42,000 after acquiring an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Hexcel in the 4th quarter worth approximately $49,000. Manchester Capital Management LLC increased its stake in Hexcel by 100.0% in the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 420 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Hexcel during the 4th quarter valued at about $57,000. Finally, Huntington National Bank lifted its holdings in shares of Hexcel by 21.4% in the 4th quarter. Huntington National Bank now owns 1,159 shares of the aerospace company’s stock worth $73,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HXL. Royal Bank of Canada decreased their target price on shares of Hexcel from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley decreased their price objective on Hexcel from $61.00 to $50.00 and set an “underperform” rating for the company in a report on Friday, April 11th. Barclays decreased their target price on shares of 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 cut their price target on Hexcel from $73.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, TD Cowen raised shares of Hexcel to a “hold” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $61.20.

Hexcel Stock Up 0.2 %

Shares of HXL opened at $50.27 on Monday. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. The company has a market cap of $4.04 billion, a PE ratio of 31.62, a P/E/G ratio of 1.72 and a beta of 1.08. Hexcel Co. has a 52-week low of $45.28 and a 52-week high of $73.58. The business has a fifty day moving average of $55.68 and a 200 day moving average of $60.71.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Hexcel had a return on equity of 10.66% and a net margin of 6.94%. The company had revenue of $456.50 million during the quarter, compared to the consensus estimate of $482.18 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, sell-side analysts expect that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.35%. Hexcel’s payout ratio is 45.03%.

About Hexcel

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.