Jennison Associates LLC Sells 150,360 Shares of Hexcel Co. (NYSE:HXL)

Jennison Associates LLC decreased its position in shares of Hexcel Co. (NYSE:HXL) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 969,034 shares of the aerospace company’s stock after selling 150,360 shares during the period. Jennison Associates LLC owned 1.15% of Hexcel worth $71,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Trust Company N.A bought a new stake in Hexcel during the 4th quarter worth approximately $30,000. Handelsbanken Fonder AB grew its holdings in Hexcel by 4.0% during the 4th quarter. Handelsbanken Fonder AB now owns 12,974 shares of the aerospace company’s stock valued at $957,000 after buying an additional 500 shares in the last quarter. Grandfield & Dodd LLC grew its holdings in Hexcel by 1.1% during the 4th quarter. Grandfield & Dodd LLC now owns 319,747 shares of the aerospace company’s stock valued at $23,581,000 after buying an additional 3,433 shares in the last quarter. Xponance Inc. grew its holdings in Hexcel by 1.8% during the 4th quarter. Xponance Inc. now owns 10,251 shares of the aerospace company’s stock valued at $756,000 after buying an additional 178 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Hexcel by 12.0% during the 4th quarter. Federated Hermes Inc. now owns 9,918 shares of the aerospace company’s stock valued at $731,000 after buying an additional 1,066 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Up 1.3 %

Shares of HXL opened at $62.53 on Tuesday. The company has a market cap of $5.20 billion, a PE ratio of 50.43, a P/E/G ratio of 1.28 and a beta of 1.23. The business has a fifty day moving average of $71.17 and a 200 day moving average of $69.55. Hexcel Co. has a 52-week low of $58.81 and a 52-week high of $79.08. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. The company had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. Hexcel’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, sell-side analysts expect that Hexcel Co. will post 2.22 EPS for the current year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. Hexcel’s dividend payout ratio is presently 48.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered shares of Hexcel from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $70.00 to $66.00 in a report on Thursday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Hexcel in a report on Wednesday, February 21st. The Goldman Sachs Group raised their target price on shares of Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Stifel Nicolaus cut their target price on shares of Hexcel from $90.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, UBS Group lowered shares of Hexcel from a “buy” rating to a “neutral” rating and cut their target price for the company from $87.00 to $72.00 in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.50.

Insider Transactions at Hexcel

In other news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction on Wednesday, February 14th. The stock was 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 directly owns 3,375 shares in the company, valued at $243,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction on Wednesday, February 14th. The stock was 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 directly owns 3,375 shares in the company, valued at $243,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the sale, the insider now owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

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.