Hexcel Co. (NYSE:HXL) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC cut its holdings in shares of Hexcel Co. (NYSE:HXL) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,905 shares of the aerospace company’s stock after selling 3,772 shares during the quarter. Clear Harbor Asset Management LLC owned 0.06% of Hexcel worth $3,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Hexcel by 1.2% in the first quarter. BlackRock Inc. now owns 9,171,181 shares of the aerospace company’s stock valued at $625,933,000 after acquiring an additional 112,122 shares in the last quarter. Morgan Stanley boosted its stake in shares of Hexcel by 838.6% in the 4th quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock valued at $400,780,000 after buying an additional 6,084,592 shares during the period. Earnest Partners LLC grew its position in shares of Hexcel by 1.1% during the third quarter. Earnest Partners LLC now owns 4,344,230 shares of the aerospace company’s stock worth $282,983,000 after buying an additional 47,591 shares in the last quarter. State Street Corp increased its stake in shares of Hexcel by 11.2% during the first quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock worth $202,771,000 after buying an additional 344,711 shares during the period. Finally, Eaton Vance Management raised its holdings in Hexcel by 4.4% in the first quarter. Eaton Vance Management now owns 2,476,907 shares of the aerospace company’s stock valued at $147,301,000 after acquiring an additional 103,891 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Insiders Place Their Bets

In related news, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the sale, the insider now owns 3,375 shares in the company, valued at $243,337.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the transaction, the insider now owns 50,371 shares in the company, valued at approximately $3,608,074.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the sale, the insider now owns 3,375 shares of the company’s stock, valued at approximately $243,337.50. The disclosure for this sale can be found here. 1.39% of the stock is owned by insiders.

Hexcel Stock Performance

Hexcel stock traded up $0.05 during midday trading on Thursday, hitting $72.85. 427,123 shares of the company’s stock were exchanged, compared to its average volume of 748,932. The firm’s 50 day simple moving average is $72.14 and its 200 day simple moving average is $69.56. Hexcel Co. has a 12-month low of $58.81 and a 12-month high of $79.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 58.75, a price-to-earnings-growth ratio of 1.62 and a beta of 1.23.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The company had revenue of $457.50 million during the quarter, compared to analyst estimates of $474.01 million. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Hexcel Co. will post 2.25 EPS for the current year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a $0.15 dividend. This is a boost from Hexcel’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, February 8th. Hexcel’s payout ratio is currently 48.39%.

Analyst Ratings Changes

HXL has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price objective on shares of Hexcel from $81.00 to $89.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Barclays decreased their price target on Hexcel from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price objective on shares of Hexcel in a report on Wednesday, February 21st. Morgan Stanley cut Hexcel from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $70.00 to $66.00 in a research note on Thursday, February 22nd. Finally, Truist Financial upgraded shares of Hexcel from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $96.00 in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.46.

Hexcel 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.