New York State Common Retirement Fund Boosts Position in Hexcel Corporation $HXL

New York State Common Retirement Fund boosted its stake in shares of Hexcel Corporation (NYSE:HXL) by 7.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 335,355 shares of the aerospace company’s stock after purchasing an additional 23,463 shares during the period. New York State Common Retirement Fund’s holdings in Hexcel were worth $18,944,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HXL. Schroder Investment Management Group increased its position in shares of Hexcel by 7.6% during the second quarter. Schroder Investment Management Group now owns 1,932,668 shares of the aerospace company’s stock worth $109,176,000 after acquiring an additional 137,313 shares during the period. Ceredex Value Advisors LLC grew its stake in Hexcel by 8.2% in the second quarter. Ceredex Value Advisors LLC now owns 769,852 shares of the aerospace company’s stock worth $43,489,000 after purchasing an additional 58,500 shares in the last quarter. Norges Bank purchased a new position in Hexcel during the 2nd quarter worth $57,697,000. Northwestern Mutual Wealth Management Co. raised its position in Hexcel by 57.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 786 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 288 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Hexcel by 1.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 84,844 shares of the aerospace company’s stock worth $4,793,000 after buying an additional 820 shares during the period. 95.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cowen restated a “hold” rating on shares of Hexcel in a research note on Friday, October 24th. Truist Financial boosted their price target on shares of Hexcel from $75.00 to $83.00 and gave the company a “buy” rating in a report on Friday, October 24th. BMO Capital Markets upped their price target on shares of Hexcel from $67.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Royal Bank Of Canada lifted their price objective on shares of Hexcel from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Finally, Zacks Research raised shares of Hexcel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and a consensus target price of $73.33.

Insider Buying and Selling at Hexcel

In other news, insider Lyndon John Smith sold 2,077 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $73.02, for a total transaction of $151,662.54. Following the sale, the insider owned 8,426 shares in the company, valued at approximately $615,266.52. The trade was a 19.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick Winterlich sold 3,413 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $73.34, for a total transaction of $250,309.42. Following the transaction, the executive vice president owned 40,357 shares in the company, valued at approximately $2,959,782.38. This trade represents a 7.80% decrease in their position. The SEC filing for this sale provides additional information. 1.39% of the stock is owned by insiders.

Hexcel Stock Up 0.8%

Shares of Hexcel stock opened at $75.40 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.75 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.00 billion, a P/E ratio of 88.70, a PEG ratio of 2.36 and a beta of 1.35. The firm’s 50 day moving average price is $68.16 and its 200-day moving average price is $62.27. Hexcel Corporation has a 52-week low of $45.28 and a 52-week high of $76.63.

Hexcel (NYSE:HXL) last posted its earnings results on Wednesday, October 22nd. The aerospace company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Hexcel had a net margin of 3.67% and a return on equity of 9.25%. The firm had revenue of $456.20 million for the quarter, compared to analysts’ expectations of $449.99 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue was down .2% on a year-over-year basis. Hexcel has set its FY 2025 guidance at 1.700-1.800 EPS. On average, sell-side analysts predict that Hexcel Corporation will post 2.14 EPS for the current fiscal year.

Hexcel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. Hexcel’s dividend payout ratio (DPR) is presently 80.00%.

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.