Mutual of America Capital Management LLC decreased its holdings in shares of Hexcel Co. (NYSE:HXL – Get Rating) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,248 shares of the aerospace company’s stock after selling 6,220 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of Hexcel worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Pinebridge Investments L.P. grew its holdings in shares of Hexcel by 487.0% during the second quarter. Pinebridge Investments L.P. now owns 587 shares of the aerospace company’s stock valued at $31,000 after buying an additional 487 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in Hexcel in the first quarter valued at about $59,000. First Horizon Advisors Inc. grew its stake in Hexcel by 6,951.9% in the second quarter. First Horizon Advisors Inc. now owns 1,904 shares of the aerospace company’s stock valued at $99,000 after purchasing an additional 1,877 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Hexcel in the first quarter valued at about $101,000. Finally, Harbor Investment Advisory LLC purchased a new position in Hexcel in the second quarter valued at about $116,000. Hedge funds and other institutional investors own 97.56% of the company’s stock.
Hexcel Price Performance
NYSE HXL opened at $58.71 on Monday. Hexcel Co. has a twelve month low of $46.77 and a twelve month high of $65.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.35 and a current ratio of 2.42. The stock has a market capitalization of $4.94 billion, a PE ratio of 46.23 and a beta of 1.24. The stock has a 50-day simple moving average of $56.01 and a 200 day simple moving average of $56.41.
Hexcel Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.40 annualized dividend and a yield of 0.68%. Hexcel’s dividend payout ratio (DPR) is 31.50%.
Analyst Upgrades and Downgrades
HXL has been the topic of a number of recent research reports. StockNews.com initiated coverage on Hexcel in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their target price on Hexcel from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. Morgan Stanley upgraded Hexcel from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $59.00 to $68.00 in a research note on Thursday, September 8th. BMO Capital Markets reduced their price target on Hexcel from $66.00 to $61.00 and set a “market perform” rating for the company in a research report on Tuesday, November 1st. Finally, Wolfe Research assumed coverage on Hexcel in a research report on Monday, October 10th. They issued a “peer perform” rating for the company. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.44.
Insider Buying and Selling at Hexcel
In other Hexcel news, insider Thierry Merlot sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $60.83, for a total value of $152,075.00. Following the completion of the transaction, the insider now owns 34,011 shares of the company’s stock, valued at approximately $2,068,889.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.39% of the company’s stock.
Hexcel Company Profile
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates through two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in automotive, marine, and trains.
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