Envestnet Asset Management Inc. Purchases 9,367 Shares of Hexcel Co. (NYSE:HXL)

Envestnet Asset Management Inc. increased its holdings in Hexcel Co. (NYSE:HXL) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 760,899 shares of the aerospace company’s stock after acquiring an additional 9,367 shares during the period. Envestnet Asset Management Inc. owned about 0.92% of Hexcel worth $47,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Private Advisor Group LLC bought a new position in Hexcel in the 4th quarter valued at $313,000. Principal Securities Inc. purchased a new position in shares of Hexcel in the 4th quarter worth about $51,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Hexcel by 31.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,563 shares of the aerospace company’s stock worth $558,000 after buying an additional 1,789 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Hexcel by 9.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 39,024 shares of the aerospace company’s stock valued at $2,879,000 after buying an additional 3,324 shares during the period. Finally, Norges Bank purchased a new stake in Hexcel during the fourth quarter worth about $66,597,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Trading Up 1.2 %

Shares of HXL stock opened at $61.21 on Friday. The business has a 50-day moving average price of $62.90 and a two-hundred day moving average price of $66.32. Hexcel Co. has a 12-month low of $58.54 and a 12-month high of $77.09. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.09 billion, a P/E ratio of 52.32, a price-to-earnings-growth ratio of 1.33 and a beta of 1.29.

Hexcel (NYSE:HXL) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $500.40 million during the quarter, compared to the consensus estimate of $484.26 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. Hexcel’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Equities analysts anticipate that Hexcel Co. will post 2.08 EPS for the current fiscal year.

Hexcel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, August 2nd. Hexcel’s payout ratio is presently 51.28%.

Wall Street Analyst Weigh In

HXL has been the topic of a number of research analyst reports. BMO Capital Markets dropped their target price on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Friday, July 19th. Truist Financial reduced their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Stifel Nicolaus lowered their target price on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, Morgan Stanley reduced their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hexcel has a consensus rating of “Hold” and a consensus target price of $74.54.

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.