Envestnet Asset Management Inc. Has $19.41 Million Stake in Hexcel Co. (NYSE:HXL)

Envestnet Asset Management Inc. boosted its position in shares of Hexcel Co. (NYSE:HXL – Get Rating) by 43.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,455 shares of the aerospace company’s stock after acquiring an additional 98,268 shares during the period. Envestnet Asset Management Inc. owned 0.39% of Hexcel worth $19,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in Hexcel by 23.8% during the 4th quarter. Alliancebernstein L.P. now owns 5,778,628 shares of the aerospace company’s stock worth $299,333,000 after acquiring an additional 1,111,217 shares during the last quarter. Eaton Vance Management lifted its position in Hexcel by 8.2% during the 4th quarter. Eaton Vance Management now owns 2,373,016 shares of the aerospace company’s stock worth $122,775,000 after acquiring an additional 180,375 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Hexcel by 43.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,048,743 shares of the aerospace company’s stock worth $106,124,000 after acquiring an additional 622,263 shares during the last quarter. Victory Capital Management Inc. lifted its position in Hexcel by 25.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,679,053 shares of the aerospace company’s stock worth $86,975,000 after acquiring an additional 337,683 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Hexcel by 7.1% during the 4th quarter. Schroder Investment Management Group now owns 1,312,979 shares of the aerospace company’s stock worth $68,012,000 after acquiring an additional 87,329 shares during the last quarter. Institutional investors and hedge funds own 97.57% of the company’s stock.

Hexcel Stock Performance

NYSE:HXL opened at $61.30 on Thursday. Hexcel Co. has a 12-month low of $46.77 and a 12-month high of $64.16. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $5.16 billion, a PE ratio of 57.29 and a beta of 1.26. The firm has a 50-day moving average price of $55.05 and a 200 day moving average price of $55.18.

Hexcel (NYSE:HXL – Get Rating) last issued its quarterly earnings data on Monday, July 25th. The aerospace company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $393.00 million for the quarter, compared to analysts’ expectations of $391.89 million. Hexcel had a net margin of 6.12% and a return on equity of 4.79%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. Research analysts anticipate that Hexcel Co. will post 1.2 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, August 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.40 annualized dividend and a yield of 0.65%. Hexcel’s dividend payout ratio is 37.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HXL. Vertical Research upped their price objective on shares of Hexcel to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Bank of America raised shares of Hexcel from an “underperform” rating to a “buy” rating and upped their price objective for the company from $45.00 to $65.00 in a research report on Wednesday, May 4th. Wells Fargo & Company upped their price objective on shares of Hexcel to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. BMO Capital Markets upped their price objective on shares of Hexcel from $57.00 to $66.00 and gave the company a “maintains” rating in a research report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Hexcel from $57.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.30.

About Hexcel

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Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates through two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.

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