Arizona State Retirement System Trims Stock Position in Hexcel Co. (NYSE:HXL)

Arizona State Retirement System lessened its holdings in Hexcel Co. (NYSE:HXL) by 1.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,612 shares of the aerospace company’s stock after selling 411 shares during the period. Arizona State Retirement System’s holdings in Hexcel were worth $1,741,000 at the end of the most recent reporting period.

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

Hexcel Stock Performance

NYSE HXL opened at $62.55 on Friday. The stock has a market capitalization of $5.20 billion, a PE ratio of 50.44, a P/E/G ratio of 1.29 and a beta of 1.23. Hexcel Co. has a 1-year low of $58.81 and a 1-year high of $79.08. The business has a 50 day simple moving average of $72.26 and a two-hundred day simple moving average of $69.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 1.68.

Hexcel (NYSE:HXL) last posted its earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $457.50 million during the quarter, compared to analysts’ expectations of $474.01 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. On average, research analysts predict that Hexcel Co. will post 2.23 EPS for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. This is a boost from Hexcel’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, February 8th. Hexcel’s dividend payout ratio is currently 48.39%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price objective on shares of Hexcel in a research note on Wednesday, February 21st. Wells Fargo & Company raised their price target on Hexcel from $78.00 to $81.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. UBS Group downgraded Hexcel from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $87.00 to $72.00 in a research report on Tuesday, January 30th. Stifel Nicolaus increased their target price on Hexcel from $81.00 to $89.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Barclays lowered their price target on Hexcel from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Hexcel has an average rating of “Hold” and a consensus price target of $76.57.

Insider Activity at Hexcel

In other Hexcel news, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Thierry Merlot sold 4,500 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was 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 in the company, valued at $3,608,074.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gina Fitzsimons sold 864 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The disclosure for this sale can be found here. 1.39% of the stock is owned by insiders.

About Hexcel

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.