ARK Investment Management LLC Sells 388 Shares of Hexcel Co. (NYSE:HXL)

ARK Investment Management LLC reduced its stake in shares of Hexcel Co. (NYSE:HXL) by 15.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,132 shares of the aerospace company’s stock after selling 388 shares during the period. ARK Investment Management LLC’s holdings in Hexcel were worth $157,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Hexcel during the 2nd quarter worth $31,000. Farther Finance Advisors LLC lifted its holdings in shares of Hexcel by 100.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 412 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 206 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Hexcel by 68.1% during the 3rd quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 179 shares during the last quarter. Creative Planning bought a new stake in shares of Hexcel during the 3rd quarter worth $30,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Hexcel during the 3rd quarter worth $41,000. 95.47% of the stock is owned by institutional investors.

Hexcel Price Performance

Shares of NYSE HXL opened at $72.72 on Thursday. Hexcel Co. has a 1 year low of $58.81 and a 1 year high of $79.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 1.68. The company’s 50-day moving average is $72.11 and its 200 day moving average is $69.54. The stock has a market capitalization of $6.04 billion, a P/E ratio of 58.65, a P/E/G ratio of 1.62 and a beta of 1.23.

Hexcel (NYSE:HXL) last announced 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 for the quarter, compared to analysts’ expectations of $474.01 million. During the same quarter in the prior year, the firm earned $0.40 EPS. Hexcel’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Hexcel Co. will post 2.25 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, February 8th. This is an increase from Hexcel’s previous quarterly dividend of $0.13. Hexcel’s dividend payout ratio is currently 48.39%.

Analyst Ratings Changes

HXL has been the subject of a number of research analyst reports. Barclays dropped their price objective on shares of Hexcel from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. Truist Financial raised shares of Hexcel from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $96.00 in a research note on Wednesday, January 10th. Morgan Stanley downgraded shares of Hexcel from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $70.00 to $66.00 in a research note on Thursday, February 22nd. Wells Fargo & Company boosted their price target on shares of Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group raised shares of Hexcel from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $57.00 to $70.00 in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $77.46.

Insider Transactions at Hexcel

In related news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now owns 50,371 shares in the company, valued at $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction on 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 sale, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gina Fitzsimons sold 864 shares of the 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 of the company’s stock, valued at $243,337.50. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Hexcel Company 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.