Jackson Square Partners LLC Decreases Stock Position in Hexcel Co. (NYSE:HXL)

Jackson Square Partners LLC decreased its position in shares of Hexcel Co. (NYSE:HXL) by 22.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 333,668 shares of the aerospace company’s stock after selling 94,158 shares during the period. Hexcel makes up about 2.3% of Jackson Square Partners LLC’s investment portfolio, making the stock its 20th biggest position. Jackson Square Partners LLC’s holdings in Hexcel were worth $20,921,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. True Wealth Design LLC acquired a new stake in Hexcel during the 3rd quarter valued at approximately $30,000. Allworth Financial LP boosted its stake in shares of Hexcel by 1,069.8% during the 4th quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock valued at $42,000 after buying an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Hexcel during the fourth quarter worth approximately $49,000. Manchester Capital Management LLC increased its stake in shares of Hexcel by 100.0% in the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock worth $53,000 after buying an additional 420 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Hexcel in the fourth quarter valued at $57,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HXL shares. Royal Bank of Canada increased their price target on shares of Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. TD Cowen raised Hexcel to a “hold” rating in a report on Monday, February 24th. Wells Fargo & Company upped their price target on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. StockNews.com upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Finally, Truist Financial boosted their target price on shares of Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.09.

Hexcel Price Performance

Shares of NYSE:HXL opened at $57.64 on Tuesday. The firm’s 50 day moving average is $62.93 and its two-hundred day moving average is $62.25. The firm has a market capitalization of $4.68 billion, a P/E ratio of 36.25, a PEG ratio of 1.72 and a beta of 1.30. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. Hexcel Co. has a 52 week low of $55.25 and a 52 week high of $73.58.

Hexcel (NYSE:HXL) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. Analysts anticipate that Hexcel Co. will post 2.14 earnings per share for the current year.

Hexcel Increases Dividend

The business also recently announced 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. This is a boost from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 annualized dividend and a yield of 1.18%. Hexcel’s dividend payout ratio (DPR) is presently 42.77%.

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.