Should You Hold Hexcel Corporation (HXL)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was -14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Hexcel Corporation (NYSE:HXL) in the fourth quarter 2023 investor letter. Hexcel Corporation (NYSE:HXL), headquartered in Stamford, Connecticut, develops, manufactures, and markets lightweight structural materials. On March 28, 2024, Hexcel Corporation (NYSE:HXL) stock closed at $72.85 per share. One-month return of Hexcel Corporation (NYSE:HXL) was -2.16%, and its shares gained 7.02% of their value over the last 52 weeks. Hexcel Corporation (NYSE:HXL) has a market capitalization of $6.054 billion.

TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Hexcel Corporation (NYSE:HXL) in its fourth quarter 2023 investor letter:

“In the Industrials sector we gravitate toward business service companies, those focused on automation & efficiency improvements, and essential infrastructure services. Hexcel Corporation (NYSE:HXL) develops and produces carbon fibers, structural reinforcements, and composite materials for use in commercial aerospace, space & defense, and industrial applications. The commercial airline industry needs more aircraft to meet increasing demand. Hexcel’s components are included in production assemblies from Boeing and Airbus.”

An engineer inspecting the assembly of an aircraft wing, intricately designed components in the background.

Hexcel Corporation (NYSE:HXL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Hexcel Corporation (NYSE:HXL) was held by 27 hedge fund portfolios, compared to 24 in the previous quarter, according to our database.

We discussed Hexcel Corporation (NYSE:HXL) in another article and shared the list of best aerospace stocks to buy on sale. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.