California State Teachers Retirement System reduced its holdings in Hexcel Co. (NYSE:HXL – Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,866 shares of the aerospace company’s stock after selling 1,576 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Hexcel worth $7,225,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its holdings in Hexcel by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,420 shares of the aerospace company’s stock worth $1,319,000 after purchasing an additional 161 shares in the last quarter. Assetmark Inc. increased its holdings in Hexcel by 35.0% in the fourth quarter. Assetmark Inc. now owns 621 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 161 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Hexcel by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 44,406 shares of the aerospace company’s stock valued at $2,297,000 after acquiring an additional 201 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Hexcel by 2.1% during the first quarter. Russell Investments Group Ltd. now owns 10,796 shares of the aerospace company’s stock valued at $737,000 after acquiring an additional 227 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Hexcel by 2.6% during the first quarter. Federated Hermes Inc. now owns 9,999 shares of the aerospace company’s stock valued at $682,000 after acquiring an additional 256 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Hexcel news, insider Gail E. Lehman sold 1,571 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $70.15, for a total value of $110,205.65. Following the transaction, the insider now owns 6,942 shares of the company’s stock, valued at $486,981.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.39% of the company’s stock.
Hexcel Trading Up 1.0 %
Hexcel (NYSE:HXL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The aerospace company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Hexcel had a return on equity of 9.40% and a net margin of 8.73%. The business had revenue of $454.30 million for the quarter, compared to analysts’ expectations of $450.15 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts anticipate that Hexcel Co. will post 1.92 earnings per share for the current fiscal year.
Hexcel Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, August 4th were given a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.50 annualized dividend and a yield of 0.71%. Hexcel’s dividend payout ratio is currently 28.74%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on HXL. BMO Capital Markets decreased their price objective on Hexcel from $74.00 to $73.00 and set a “market perform” rating for the company in a report on Monday, August 7th. StockNews.com began coverage on Hexcel in a report on Thursday. They set a “hold” rating for the company. Truist Financial decreased their price objective on Hexcel from $73.00 to $71.00 in a report on Wednesday, July 26th. Barclays boosted their price objective on Hexcel from $64.00 to $80.00 in a report on Tuesday, May 2nd. Finally, Wells Fargo & Company upped their price target on Hexcel from $71.00 to $77.00 in a report on Wednesday, July 26th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $75.22.
View Our Latest Stock Report on Hexcel
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.
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