Public Employees Retirement System of Ohio Decreases Stake in Hexcel Co. (NYSE:HXL)

Public Employees Retirement System of Ohio lessened its holdings in Hexcel Co. (NYSE:HXL) by 6.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,716 shares of the aerospace company’s stock after selling 1,971 shares during the period. Public Employees Retirement System of Ohio’s holdings in Hexcel were worth $1,899,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in Hexcel by 46.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,215 shares of the aerospace company’s stock valued at $1,075,000 after buying an additional 5,430 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Hexcel during the 2nd quarter valued at approximately $250,000. Fifth Third Bancorp increased its stake in shares of Hexcel by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 52,574 shares of the aerospace company’s stock worth $3,283,000 after purchasing an additional 315 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Hexcel in the 2nd quarter worth approximately $128,000. Finally, Ceredex Value Advisors LLC raised its holdings in shares of Hexcel by 280.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 722,290 shares of the aerospace company’s stock worth $45,107,000 after purchasing an additional 532,550 shares during the period. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial decreased their target price on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. BMO Capital Markets decreased their price objective on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of Hexcel from $78.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Vertical Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.83.

Hexcel Stock Down 3.1 %

HXL opened at $61.61 on Thursday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.30. Hexcel Co. has a one year low of $57.50 and a one year high of $77.09. The company has a fifty day moving average price of $61.86 and a 200-day moving average price of $62.64. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.76 and a quick ratio of 1.51.

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

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.97%. Hexcel’s payout ratio is presently 45.80%.

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.