The Manufacturers Life Insurance Company Acquires 200,722 Shares of Hexcel Co. (NYSE:HXL)

The Manufacturers Life Insurance Company grew its holdings in Hexcel Co. (NYSE:HXL) by 52.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 586,217 shares of the aerospace company’s stock after purchasing an additional 200,722 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.72% of Hexcel worth $36,246,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Earnest Partners LLC increased its holdings in Hexcel by 2.9% during the second quarter. Earnest Partners LLC now owns 4,835,994 shares of the aerospace company’s stock valued at $302,008,000 after buying an additional 136,290 shares during the period. AQR Capital Management LLC boosted its position in Hexcel by 277.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after acquiring an additional 1,246,765 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 valued at $98,966,000 after acquiring an additional 425,402 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Hexcel by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,406,287 shares of the aerospace company’s stock worth $87,829,000 after acquiring an additional 103,679 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its stake in shares of Hexcel by 12.5% during the 3rd quarter. Copeland Capital Management LLC now owns 1,161,415 shares of the aerospace company’s stock worth $71,810,000 after purchasing an additional 129,335 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Analyst Ratings Changes

HXL has been the topic of several analyst reports. UBS Group lifted their target price on Hexcel from $67.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. Vertical Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, October 10th. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a report on Friday, October 18th. Two investment 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, Hexcel currently has a consensus rating of “Hold” and an average price target of $70.58.

Hexcel Price Performance

Shares of NYSE:HXL opened at $63.39 on Friday. Hexcel Co. has a twelve month low of $57.50 and a twelve month high of $77.09. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.13 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company’s 50 day moving average is $61.12 and its 200 day moving average is $63.39.

Hexcel (NYSE:HXL) last issued its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Hexcel Co. will post 2.02 EPS for the current year.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, November 1st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is 45.80%.

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.