Connor Clark & Lunn Investment Management Ltd. Has $6.45 Million Stock Position in Hexcel Co. (NYSE:HXL)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Hexcel Co. (NYSE:HXL) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 104,251 shares of the aerospace company’s stock after buying an additional 5,270 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hexcel were worth $6,446,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Hexcel in the 3rd quarter valued at $56,000. Huntington National Bank raised its stake in shares of Hexcel by 30.8% in the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 225 shares during the period. Eastern Bank bought a new stake in shares of Hexcel in the third quarter valued at about $62,000. GAMMA Investing LLC boosted its position in shares of Hexcel by 34.8% during the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock worth $67,000 after buying an additional 276 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of Hexcel by 38.9% during the third quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock worth $92,000 after buying an additional 417 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HXL shares. Deutsche Bank Aktiengesellschaft cut their target price on Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial lowered their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. BMO Capital Markets cut their price objective on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. Finally, Vertical Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.31.

Hexcel Stock Performance

NYSE HXL opened at $61.20 on Friday. The stock has a market cap of $4.96 billion, a PE ratio of 46.72, a P/E/G ratio of 1.73 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. The firm has a 50-day moving average of $60.97 and a 200-day moving average of $63.66. Hexcel Co. has a 52-week low of $57.50 and a 52-week high of $77.09.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The firm had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. During the same period last year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Hexcel Co. will post 2.02 EPS for the current year.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s payout ratio is 45.80%.

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.