Meeder Asset Management Inc. Increases Stock Position in Hexcel Co. (NYSE:HXL)

Meeder Asset Management Inc. lifted its position in shares of Hexcel Co. (NYSE:HXL) by 67,506.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,747 shares of the aerospace company’s stock after buying an additional 29,703 shares during the period. Meeder Asset Management Inc.’s holdings in Hexcel were worth $1,865,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Barclays PLC grew its position in Hexcel by 32.1% during the third quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after acquiring an additional 17,011 shares during the period. FMR LLC increased its position in Hexcel by 11.7% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Hexcel by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock valued at $68,021,000 after buying an additional 24,133 shares during the period. Kopion Asset Management LLC lifted its position in Hexcel by 11.2% during the fourth quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock valued at $6,142,000 after buying an additional 9,861 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Hexcel during the fourth quarter worth approximately $242,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Wells Fargo & Company raised their price objective on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada upped their target price on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. TD Cowen upgraded Hexcel to a “hold” rating in a report on Monday, February 24th. Finally, Truist Financial decreased their price target on Hexcel from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday. 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 has an average rating of “Hold” and a consensus price target of $72.64.

Hexcel Stock Down 3.1 %

HXL stock opened at $56.28 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $62.23 and a 200-day simple moving average of $62.18. The company has a market capitalization of $4.52 billion, a P/E ratio of 35.40, a PEG ratio of 1.72 and a beta of 1.30. Hexcel Co. has a twelve month low of $55.25 and a twelve month high of $73.58.

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

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 annualized dividend and a yield of 1.21%. This is a boost from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is presently 42.77%.

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.