Alberta Investment Management Corp Purchases New Holdings in Hexcel Co. (NYSE:HXL)

Alberta Investment Management Corp acquired a new position in Hexcel Co. (NYSE:HXL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,415 shares of the aerospace company’s stock, valued at approximately $967,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TimesSquare Capital Management LLC purchased a new stake in shares of Hexcel in the 4th quarter worth approximately $14,148,000. New York State Common Retirement Fund boosted its holdings in Hexcel by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 312,131 shares of the aerospace company’s stock worth $19,571,000 after acquiring an additional 16,796 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Hexcel by 14.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 35,712 shares of the aerospace company’s stock worth $2,239,000 after acquiring an additional 4,626 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Hexcel by 1,069.8% during the fourth quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock valued at $42,000 after acquiring an additional 567 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of Hexcel by 100.0% in the 4th quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 420 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial increased their price target on shares of Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a report on Friday, January 24th. TD Cowen upgraded shares of Hexcel to a “hold” rating in a report on Thursday, December 19th. BMO Capital Markets cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.09.

Hexcel Trading Down 2.2 %

Hexcel stock opened at $62.68 on Friday. Hexcel Co. has a 52-week low of $57.50 and a 52-week high of $77.09. The company has a market cap of $5.09 billion, a P/E ratio of 39.42, a P/E/G ratio of 1.86 and a beta of 1.31. 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 business has a 50-day simple moving average of $64.88 and a two-hundred day simple moving average of $62.80.

Hexcel (NYSE:HXL) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. Analysts predict that Hexcel Co. will post 2.14 EPS for the current 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 paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 7th. Hexcel’s dividend payout ratio is 42.77%.

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.