Envestnet Portfolio Solutions Inc. Reduces Stock Position in Hexcel Co. (NYSE:HXL)

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Hexcel Co. (NYSE:HXL) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 21,486 shares of the aerospace company’s stock after selling 603 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Hexcel were worth $1,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of Hexcel by 32.1% in the 3rd quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock worth $4,330,000 after acquiring an additional 17,011 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Hexcel by 12.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company’s stock valued at $35,957,000 after purchasing an additional 63,730 shares during the period. FMR LLC increased its position in Hexcel by 11.7% during the third quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock worth $4,791,000 after purchasing an additional 8,135 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hexcel by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock worth $68,021,000 after purchasing an additional 24,133 shares during the period. Finally, Kopion Asset Management LLC boosted its holdings in Hexcel by 11.2% in the 4th quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock valued at $6,142,000 after purchasing an additional 9,861 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Truist Financial lifted their target price on Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Royal Bank of Canada increased 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. TD Cowen raised shares of Hexcel to a “hold” rating in a research report on Monday, February 24th. Finally, StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Hexcel currently has a consensus rating of “Hold” and an average target price of $73.09.

Hexcel Price Performance

Shares of HXL opened at $55.80 on Friday. The company has a market cap of $4.53 billion, a P/E ratio of 35.09, a PEG ratio of 1.72 and a beta of 1.30. Hexcel Co. has a fifty-two week low of $55.25 and a fifty-two 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. The firm’s 50 day moving average price is $63.09 and its 200 day moving average price is $62.25.

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

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. Hexcel’s payout ratio is currently 42.77%.

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.