Arizona State Retirement System Trims Holdings in Hexcel Co. (NYSE:HXL)

Arizona State Retirement System reduced its holdings in shares of Hexcel Co. (NYSE:HXL) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,725 shares of the aerospace company’s stock after selling 208 shares during the quarter. Arizona State Retirement System’s holdings in Hexcel were worth $1,488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Hexcel during the 3rd quarter valued at approximately $30,000. Allworth Financial LP lifted its stake in Hexcel by 1,069.8% during the fourth quarter. Allworth Financial LP now owns 620 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 567 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Hexcel during the fourth quarter worth $49,000. Manchester Capital Management LLC lifted its stake in Hexcel by 100.0% during the fourth quarter. Manchester Capital Management LLC now owns 840 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 420 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Hexcel during the fourth quarter worth $57,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HXL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Monday, February 24th. StockNews.com cut Hexcel from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Wells Fargo & Company raised their price objective on Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Truist Financial raised their price objective on Hexcel from $76.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hexcel presently has an average rating of “Hold” and an average target price of $73.09.

Hexcel Price Performance

Shares of HXL opened at $56.54 on Thursday. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. Hexcel Co. has a one year low of $55.35 and a one year high of $73.75. The stock’s fifty day moving average is $64.10 and its 200-day moving average is $62.58.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. Equities analysts anticipate that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 7th. Hexcel’s dividend payout ratio (DPR) is 42.77%.

Hexcel Profile

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.