Merit Financial Group LLC Acquires New Shares in Hexcel Co. (NYSE:HXL)

Merit Financial Group LLC bought a new position in shares of Hexcel Co. (NYSE:HXL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,862 shares of the aerospace company’s stock, valued at approximately $242,000.

Several other institutional investors also recently modified their holdings of HXL. Hennion & Walsh Asset Management Inc. boosted its stake in Hexcel by 33.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,416 shares of the aerospace company’s stock worth $653,000 after acquiring an additional 2,632 shares during the last quarter. Kopion Asset Management LLC raised its holdings in Hexcel by 11.2% in the fourth quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock worth $6,142,000 after purchasing an additional 9,861 shares during the period. Park Avenue Securities LLC boosted its position in shares of Hexcel by 27.6% during the fourth quarter. Park Avenue Securities LLC now owns 13,375 shares of the aerospace company’s stock worth $839,000 after purchasing an additional 2,890 shares in the last quarter. Oak Thistle LLC grew its holdings in shares of Hexcel by 303.5% in the 4th quarter. Oak Thistle LLC now owns 19,169 shares of the aerospace company’s stock valued at $1,202,000 after buying an additional 14,418 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Hexcel by 4.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,516 shares of the aerospace company’s stock valued at $1,639,000 after buying an additional 1,147 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday. BMO Capital Markets decreased their price objective on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a research report on Monday, October 28th. TD Cowen upgraded shares of Hexcel to a “hold” rating in a report on Thursday, December 19th. StockNews.com cut shares of Hexcel from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Truist Financial raised their price objective on shares of Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.25.

Hexcel Price Performance

Shares of NYSE HXL opened at $67.48 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51. The business has a 50-day moving average of $63.73 and a 200-day moving average of $62.70. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 1.94 and a beta of 1.30. Hexcel Co. has a fifty-two week low of $57.50 and a fifty-two week high of $77.09.

Hexcel (NYSE:HXL) last posted its quarterly earnings results 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 return on equity of 10.55% and a net margin of 6.94%. As a group, sell-side analysts predict that Hexcel Co. will post 2.34 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a dividend of $0.17 per share. 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 1.01%. The ex-dividend date is Friday, February 7th. Hexcel’s dividend payout ratio is 37.74%.

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.