Envestnet Asset Management Inc. Has $48.04 Million Stock Position in Hexcel Co. (NYSE:HXL)

Envestnet Asset Management Inc. lessened its stake in Hexcel Co. (NYSE:HXL) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 766,207 shares of the aerospace company’s stock after selling 22,945 shares during the quarter. Envestnet Asset Management Inc. owned 0.94% of Hexcel worth $48,041,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HXL shares. Wells Fargo & Company decreased their price target on shares of Hexcel from $87.00 to $63.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Truist Financial reduced their price objective on shares of Hexcel from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Royal Bank of Canada raised their price objective on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, TD Cowen upgraded Hexcel to a “hold” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Hexcel has a consensus rating of “Hold” and a consensus target price of $70.73.

Hexcel Price Performance

NYSE:HXL opened at $51.25 on Friday. Hexcel Co. has a 12-month low of $45.28 and a 12-month high of $73.58. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 1.72 and a beta of 1.08. The stock’s 50 day moving average price is $58.80 and its two-hundred day moving average price is $61.43. 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 posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. On average, analysts anticipate that Hexcel Co. will post 2.14 earnings per share 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 dividend of $0.17 per share. This is an increase from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. Hexcel’s payout ratio is presently 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.