State Board of Administration of Florida Retirement System lifted its holdings in shares of Hexcel Corporation (NYSE:HXL) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,707 shares of the aerospace company’s stock after purchasing an additional 3,810 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Hexcel Corporation worth $6,070,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Hexcel Corporation by 5.0% during the 2nd quarter. BlackRock Inc. now owns 4,924,139 shares of the aerospace company’s stock worth $259,946,000 after purchasing an additional 233,521 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Hexcel Corporation by 6.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 3,246,155 shares of the aerospace company’s stock worth $171,365,000 after purchasing an additional 199,893 shares during the last quarter. Broad Run Investment Management LLC increased its stake in shares of Hexcel Corporation by 1.0% during the 2nd quarter. Broad Run Investment Management LLC now owns 2,980,460 shares of the aerospace company’s stock worth $157,338,000 after purchasing an additional 28,991 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Hexcel Corporation by 1.0% during the 2nd quarter. Earnest Partners LLC now owns 2,787,790 shares of the aerospace company’s stock worth $147,167,000 after purchasing an additional 26,303 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Hexcel Corporation by 7.8% during the 2nd quarter. State Street Corp now owns 2,325,125 shares of the aerospace company’s stock worth $122,742,000 after purchasing an additional 169,088 shares during the last quarter. Institutional investors own 96.51% of the company’s stock.
Shares of Hexcel Corporation (HXL) opened at $60.25 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.74 and a debt-to-equity ratio of 0.58. Hexcel Corporation has a 1-year low of $47.73 and a 1-year high of $63.93. The firm has a market cap of $5,427.25, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.10.
Hexcel Corporation (NYSE:HXL) last issued its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The firm had revenue of $491.50 million during the quarter, compared to the consensus estimate of $507.77 million. During the same period in the prior year, the firm earned $0.65 EPS. The business’s revenue was down 1.8% on a year-over-year basis. equities research analysts predict that Hexcel Corporation will post 2.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Shareholders of record on Wednesday, November 1st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Tuesday, October 31st. Hexcel Corporation’s dividend payout ratio (DPR) is presently 18.05%.
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Several brokerages have recently commented on HXL. Loop Capital assumed coverage on shares of Hexcel Corporation in a research note on Thursday, September 28th. They set a “hold” rating and a $61.00 price target on the stock. BidaskClub downgraded shares of Hexcel Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $57.00 price objective on shares of Hexcel Corporation in a report on Wednesday, August 9th. Canaccord Genuity reaffirmed a “hold” rating and set a $54.00 price objective on shares of Hexcel Corporation in a report on Friday, September 29th. Finally, Zacks Investment Research raised shares of Hexcel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Hexcel Corporation presently has an average rating of “Hold” and a consensus price target of $59.20.
In other news, insider Thierry Merlot sold 3,748 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.19, for a total transaction of $229,340.12. Following the completion of the transaction, the insider now directly owns 13,691 shares of the company’s stock, valued at approximately $837,752.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kimberly A. Hendricks sold 2,608 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $63.35, for a total transaction of $165,216.80. Following the transaction, the senior vice president now directly owns 22,221 shares of the company’s stock, valued at $1,407,700.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,304 shares of company stock valued at $823,040. Insiders own 2.10% of the company’s stock.
Hexcel Corporation Profile
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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