Arizona State Retirement System Cuts Position in Hexcel Corporation (NYSE:HXL)

Arizona State Retirement System cut its stake in Hexcel Corporation (NYSE:HXL) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,235 shares of the aerospace company’s stock after selling 490 shares during the quarter. Arizona State Retirement System’s holdings in Hexcel were worth $1,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HXL. NBC Securities Inc. purchased a new position in Hexcel during the 1st quarter worth $61,000. Parvin Asset Management LLC purchased a new stake in Hexcel during the 4th quarter valued at about $66,000. Farther Finance Advisors LLC grew its stake in Hexcel by 71.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company’s stock valued at $66,000 after purchasing an additional 499 shares during the last quarter. Huntington National Bank grew its stake in Hexcel by 21.4% during the 4th quarter. Huntington National Bank now owns 1,159 shares of the aerospace company’s stock valued at $73,000 after purchasing an additional 204 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in Hexcel by 61.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company’s stock valued at $80,000 after purchasing an additional 486 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HXL has been the subject of a number of analyst reports. Wall Street Zen cut Hexcel from a “buy” rating to a “hold” rating in a report on Sunday, April 27th. Barclays lowered their price objective on Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Royal Bank Of Canada lowered their price objective on Hexcel from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their price objective on Hexcel from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, BMO Capital Markets cut their price objective on Hexcel from $72.00 to $52.00 and set a “market perform” rating on the stock in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.22.

Hexcel Stock Down 0.2%

Shares of HXL opened at $60.59 on Friday. The company has a 50-day simple moving average of $55.65 and a 200-day simple moving average of $57.66. The firm has a market capitalization of $4.87 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.04 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 2.59. Hexcel Corporation has a 52 week low of $45.28 and a 52 week high of $71.05.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Hexcel had a net margin of 6.60% and a return on equity of 10.36%. The company had revenue of $456.50 million during the quarter, compared to analyst estimates of $482.18 million. During the same period in the prior year, the business earned $0.44 EPS. On average, equities research analysts expect that Hexcel Corporation will post 2.14 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.68 annualized dividend and a yield of 1.12%. Hexcel’s payout ratio is currently 45.03%.

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.