Hexcel Co. (NYSE:HXL) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in Hexcel Co. (NYSE:HXL) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,431 shares of the aerospace company’s stock after selling 1,313 shares during the period. New York State Teachers Retirement System owned 0.07% of Hexcel worth $3,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Hexcel by 151.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock valued at $25,086,000 after buying an additional 207,434 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Hexcel by 32.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 80,953 shares of the aerospace company’s stock valued at $5,897,000 after acquiring an additional 19,736 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Hexcel during the 1st quarter worth about $1,109,000. Capital World Investors lifted its stake in Hexcel by 16.4% during the first quarter. Capital World Investors now owns 885,547 shares of the aerospace company’s stock worth $64,512,000 after purchasing an additional 124,900 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Hexcel by 6.7% in the first quarter. Sei Investments Co. now owns 1,318,541 shares of the aerospace company’s stock valued at $96,056,000 after purchasing an additional 82,473 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Hexcel Trading Up 4.1 %

NYSE:HXL opened at $62.42 on Thursday. 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 stock’s 50 day simple moving average is $61.23 and its 200-day simple moving average is $64.09. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09. The firm has a market cap of $5.06 billion, a P/E ratio of 47.65, a PEG ratio of 1.45 and a beta of 1.30.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company had revenue of $457.00 million for the quarter, compared to analysts’ expectations of $457.07 million. During the same period in the previous year, the company posted $0.38 EPS. Hexcel’s revenue was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Hexcel Co. will post 2.02 EPS for the current year.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be given a $0.15 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. Hexcel’s payout ratio is currently 45.80%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Truist Financial cut their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Vertical Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their target price on Hexcel from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley dropped their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Hexcel presently has a consensus rating of “Hold” and an average price target of $71.54.

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.