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

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

Several other hedge funds have also modified their holdings of the stock. Barclays PLC increased its holdings in Hexcel by 32.1% during the 3rd quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock worth $4,330,000 after purchasing an additional 17,011 shares during the period. FMR LLC increased its stake in shares of Hexcel by 11.7% during the third quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock worth $4,791,000 after buying an additional 8,135 shares during the period. 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 acquiring an additional 24,133 shares in the last quarter. Kopion Asset Management LLC increased its position in shares of Hexcel by 11.2% in the 4th quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock valued at $6,142,000 after purchasing an additional 9,861 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Hexcel in the 4th quarter valued at $242,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Hexcel Stock Down 3.1 %

HXL opened at $56.28 on Monday. The firm has a market cap of $4.52 billion, a P/E ratio of 35.40, a PEG ratio of 1.72 and a beta of 1.30. 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’s fifty day simple moving average is $62.23 and its 200 day simple moving average is $62.18. Hexcel Co. has a 52 week low of $55.25 and a 52 week high of $73.58.

Hexcel (NYSE:HXL) last posted its quarterly earnings data 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 net margin of 6.94% and a return on equity of 10.66%. As a group, equities research analysts anticipate that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.17 dividend. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, February 7th. Hexcel’s dividend payout ratio is presently 42.77%.

Analyst Ratings Changes

HXL has been the topic of several recent analyst reports. Truist Financial dropped their target price on Hexcel from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada upped their price objective on shares of Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a report on Monday, March 17th. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Monday, February 24th. Finally, Wells Fargo & Company raised their price objective on shares of Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and an average target price of $72.64.

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.