Hexcel Co. (NYSE:HXL) Shares Sold by Austin Asset Management Co Inc

Austin Asset Management Co Inc lessened its stake in shares of Hexcel Co. (NYSE:HXL) by 23.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,600 shares of the aerospace company’s stock after selling 1,400 shares during the period. Austin Asset Management Co Inc’s holdings in Hexcel were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HXL. True Wealth Design LLC purchased a new stake in shares of Hexcel during the third quarter worth $30,000. Capital Performance Advisors LLP purchased a new stake in Hexcel during the 3rd quarter valued at about $56,000. First Horizon Advisors Inc. raised its holdings in Hexcel by 53.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 932 shares of the aerospace company’s stock valued at $58,000 after acquiring an additional 326 shares during the last quarter. Huntington National Bank raised its holdings in Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 225 shares during the last quarter. Finally, Eastern Bank purchased a new position in Hexcel in the 3rd quarter worth approximately $62,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Trading Up 1.0 %

HXL opened at $65.28 on Friday. 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 has a market cap of $5.29 billion, a P/E ratio of 41.05, a P/E/G ratio of 1.85 and a beta of 1.31. Hexcel Co. has a 52 week low of $57.50 and a 52 week high of $77.09. The business has a fifty day simple moving average of $64.59 and a 200-day simple moving average of $62.70.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. On average, equities analysts expect that Hexcel Co. will post 2.16 earnings per share for the current year.

Hexcel Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be issued a $0.17 dividend. The ex-dividend date is Friday, February 7th. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.04%. Hexcel’s dividend payout ratio (DPR) is 42.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HXL shares. Truist Financial increased their price target on Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 24th. TD Cowen raised shares of Hexcel to a “hold” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their target price on shares of Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. StockNews.com cut shares of Hexcel from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Hexcel currently has an average rating of “Hold” and a consensus target price of $73.09.

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.