State of Tennessee Department of Treasury Cuts Holdings in Hexcel Co. (NYSE:HXL)

State of Tennessee Department of Treasury reduced its position in Hexcel Co. (NYSE:HXL) by 2.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,083 shares of the aerospace company’s stock after selling 961 shares during the period. State of Tennessee Department of Treasury’s holdings in Hexcel were worth $2,137,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HXL. Barclays PLC increased its holdings in Hexcel by 32.1% in the 3rd quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after purchasing an additional 17,011 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Hexcel by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock valued at $68,021,000 after purchasing an additional 24,133 shares in the last quarter. Kopion Asset Management LLC increased its holdings in Hexcel by 11.2% in the 4th quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock valued at $6,142,000 after purchasing an additional 9,861 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Hexcel in the 4th quarter valued at $242,000. Finally, Oak Thistle LLC increased its holdings in Hexcel by 303.5% in the 4th quarter. Oak Thistle LLC now owns 19,169 shares of the aerospace company’s stock valued at $1,202,000 after purchasing an additional 14,418 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HXL shares. Barclays lowered their price target on Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company dropped their target price on Hexcel from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets reduced their price target on Hexcel from $72.00 to $52.00 and set a “market perform” rating for the company in a report on Wednesday, April 23rd. TD Cowen upgraded Hexcel to a “hold” rating in a report on Monday, February 24th. Finally, UBS Group cut their target price on Hexcel from $53.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.20.

Hexcel Stock Performance

HXL stock opened at $50.52 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.06 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.72 and a beta of 1.08. Hexcel Co. has a 12-month low of $45.28 and a 12-month high of $73.58. The stock’s 50 day simple moving average is $55.39 and its 200 day simple moving average is $60.64.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). The firm had revenue of $456.50 million for the quarter, compared to analyst estimates of $482.18 million. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. During the same period in the prior year, the company posted $0.44 earnings per share. As a group, equities research analysts predict that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.35%. 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.