Aries Wealth Management Sells 500 Shares of Hexcel Co. (NYSE:HXL)

Aries Wealth Management cut its position in shares of Hexcel Co. (NYSE:HXL) by 12.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,500 shares of the aerospace company’s stock after selling 500 shares during the period. Aries Wealth Management’s holdings in Hexcel were worth $219,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC raised its stake in Hexcel by 1,153.9% during the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock valued at $33,546,000 after purchasing an additional 493,218 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Hexcel by 36.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company’s stock worth $98,966,000 after buying an additional 425,402 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Hexcel by 34.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 973,352 shares of the aerospace company’s stock worth $60,182,000 after buying an additional 251,062 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Hexcel by 52.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 586,217 shares of the aerospace company’s stock valued at $36,246,000 after buying an additional 200,722 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Hexcel by 588.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 205,458 shares of the aerospace company’s stock valued at $12,704,000 after acquiring an additional 175,608 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Trading Down 1.1 %

Shares of HXL opened at $64.16 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 1.84 and a beta of 1.31. The company has a 50-day moving average of $64.69 and a 200 day moving average of $62.76. Hexcel Co. has a 1-year low of $57.50 and a 1-year high of $77.09.

Hexcel (NYSE:HXL) last issued its 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, research analysts expect that Hexcel Co. will post 2.16 EPS for the current year.

Hexcel Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be paid 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 1.06%. Hexcel’s dividend payout ratio is 37.74%.

Analyst Upgrades and Downgrades

HXL has been the topic of several analyst reports. Truist Financial boosted their price objective on Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their target price on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. UBS Group raised their price target on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Finally, TD Cowen upgraded shares of Hexcel to a “hold” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.09.

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.