Texas Permanent School Fund Sells 3,903 Shares of Hexcel Co. (NYSE:HXL)

Posted by Defense World Staff on May 8th, 2023

Hexcel logo Texas Permanent School Fund lessened its stake in shares of Hexcel Co. (NYSE:HXL – Get Rating) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,587 shares of the aerospace company’s stock after selling 3,903 shares during the period. Texas Permanent School Fund owned about 0.07% of Hexcel worth $3,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Hexcel by 6.0% during the first quarter. BlackRock Inc. now owns 8,420,295 shares of the aerospace company’s stock valued at $500,755,000 after acquiring an additional 475,375 shares in the last quarter. Alliancebernstein L.P. raised its stake in Hexcel by 58.1% in the third quarter. Alliancebernstein L.P. now owns 6,160,587 shares of the aerospace company’s stock worth $318,626,000 after buying an additional 2,263,252 shares in the last quarter. Boston Partners raised its stake in Hexcel by 15.1% in the third quarter. Boston Partners now owns 3,799,982 shares of the aerospace company’s stock worth $196,571,000 after buying an additional 498,461 shares in the last quarter. State Street Corp raised its stake in Hexcel by 11.2% in the first quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock worth $202,771,000 after buying an additional 344,711 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in Hexcel by 4.4% in the first quarter. Eaton Vance Management now owns 2,476,907 shares of the aerospace company’s stock worth $147,301,000 after purchasing an additional 103,891 shares during the last quarter. Institutional investors own 97.87% of the company’s stock.

Hexcel Stock Performance

NYSE:HXL opened at $72.27 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.56 and a current ratio of 2.78. The stock has a market capitalization of $6.10 billion, a P/E ratio of 40.83 and a beta of 1.23. The company has a 50 day moving average price of $69.48 and a 200 day moving average price of $64.47. Hexcel Co. has a fifty-two week low of $47.38 and a fifty-two week high of $75.47.

Hexcel (NYSE:HXL – Get Rating) last released its earnings results on Tuesday, April 25th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $457.70 million for the quarter, compared to analyst estimates of $431.53 million. Hexcel had a net margin of 9.19% and a return on equity of 8.73%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. Equities research analysts forecast that Hexcel Co. will post 1.87 EPS for the current year.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, May 5th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.69%. Hexcel’s payout ratio is 28.25%.

Wall Street Analysts Forecast Growth

HXL has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Hexcel from $64.00 to $80.00 in a report on Tuesday, May 2nd. Royal Bank of Canada upped their price objective on shares of Hexcel from $65.00 to $70.00 in a research report on Wednesday, April 26th. BMO Capital Markets upped their price objective on shares of Hexcel from $65.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, February 9th. Jefferies Financial Group upped their price target on shares of Hexcel from $60.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 30th. Finally, Bank of America downgraded shares of Hexcel from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $75.00 to $70.00 in a research report on Friday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hexcel presently has an average rating of “Hold” and an average price target of $70.00.

Insider Activity

In other Hexcel news, insider Thierry Merlot sold 565 shares of Hexcel stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $70.91, for a total value of $40,064.15. Following the transaction, the insider now directly owns 38,010 shares in the company, valued at $2,695,289.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Hexcel news, insider Thierry Merlot sold 565 shares of Hexcel stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $70.91, for a total value of $40,064.15. Following the transaction, the insider now directly owns 38,010 shares in the company, valued at $2,695,289.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marilyn Minus sold 700 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $71.31, for a total transaction of $49,917.00. Following the transaction, the director now owns 3,672 shares in the company, valued at $261,850.32. The disclosure for this sale can be found here. Company insiders own 1.39% of the company’s stock.

Hexcel Company Profile

(Get Rating)

Hexcel Corp. engages in the development, manufacture, and marketing of lightweight structural materials. It operates through the Composite Materials and Engineered Products segments. The Composite Materials segment includes carbon fiber, specialty reinforcements, resins, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles.