Retirement Systems of Alabama Lowers Stake in Hexcel Co. (NYSE:HXL)

Retirement Systems of Alabama cut its stake in Hexcel Co. (NYSE:HXL) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,304 shares of the aerospace company’s stock after selling 3,278 shares during the period. Retirement Systems of Alabama’s holdings in Hexcel were worth $6,140,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. boosted its holdings in shares of Hexcel by 15.6% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 244,873 shares of the aerospace company’s stock worth $15,140,000 after purchasing an additional 32,960 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Hexcel by 12.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company’s stock worth $35,957,000 after buying an additional 63,730 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Hexcel by 215.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 865,235 shares of the aerospace company’s stock valued at $54,034,000 after acquiring an additional 590,975 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Hexcel during the second quarter worth approximately $250,000. Finally, FMR LLC lifted its holdings in shares of Hexcel by 11.7% in the 3rd quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock worth $4,791,000 after acquiring an additional 8,135 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Down 3.1 %

Shares of NYSE HXL opened at $61.61 on Thursday. The firm has a fifty day simple moving average of $61.86 and a two-hundred day simple moving average of $62.64. Hexcel Co. has a 12 month low of $57.50 and a 12 month high of $77.09. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $4.99 billion, a PE ratio of 47.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $457.00 million during the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. Hexcel’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Equities analysts expect that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HXL. UBS Group lifted their target price on shares of Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price objective on Hexcel from $78.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft reduced their price target on Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Truist Financial lowered their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Vertical Research cut 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.83.

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.