Centre Asset Management LLC Purchases Shares of 125,263 Hexcel Co. (NYSE:HXL)

Centre Asset Management LLC purchased a new stake in Hexcel Co. (NYSE:HXL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 125,263 shares of the aerospace company’s stock, valued at approximately $7,854,000. Centre Asset Management LLC owned 0.15% of Hexcel as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Speece Thorson Capital Group Inc. boosted its holdings in shares of Hexcel by 15.6% during the 3rd quarter. Speece Thorson Capital Group Inc. now owns 244,873 shares of the aerospace company’s stock worth $15,140,000 after buying an additional 32,960 shares during the period. Barclays PLC raised its stake in shares of Hexcel by 32.1% in the third 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. raised its position in shares of Hexcel by 12.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company’s stock worth $35,957,000 after acquiring an additional 63,730 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Hexcel by 215.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after purchasing an additional 590,975 shares during the last quarter. Finally, FMR LLC raised its position in shares of Hexcel by 11.7% during the 3rd quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock valued at $4,791,000 after acquiring an additional 8,135 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Price Performance

Shares of Hexcel stock traded up $0.66 during trading on Friday, hitting $62.46. The stock had a trading volume of 50,038 shares, compared to its average volume of 294,923. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 47.68, a P/E/G ratio of 1.97 and a beta of 1.30. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09. The business’s 50-day moving average is $62.03 and its 200 day moving average is $62.43. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $457.00 million during the quarter, compared to analyst estimates of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. As a group, sell-side analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen upgraded Hexcel to a “hold” rating in a report on Thursday, December 19th. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upgraded Hexcel from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $68.00 to $74.00 in a report on Thursday, December 19th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Thursday, October 10th. Finally, BMO Capital Markets lowered their price objective on Hexcel from $70.00 to $68.00 and set a “market perform” rating on the stock in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.33.

Hexcel 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.