State of Alaska Department of Revenue Cuts Holdings in Hexcel Co. (NYSE:HXL)

Posted by on Oct 18th, 2023

State of Alaska Department of Revenue lowered its position in Hexcel Co. (NYSE:HXL – Free Report) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,457 shares of the aerospace company’s stock after selling 1,156 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hexcel were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in shares of Hexcel by 838.6% in the 4th quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock valued at $400,780,000 after purchasing an additional 6,084,592 shares in the last quarter. Jackson Square Partners LLC purchased a new stake in Hexcel during the first quarter worth approximately $86,847,000. Norges Bank acquired a new stake in shares of Hexcel in the fourth quarter worth $56,738,000. Jennison Associates LLC raised its stake in shares of Hexcel by 206.6% in the 1st quarter. Jennison Associates LLC now owns 780,302 shares of the aerospace company’s stock valued at $53,256,000 after acquiring an additional 525,820 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Hexcel by 6.0% during the 1st 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. Hedge funds and other institutional investors own 94.71% of the company’s stock.

Hexcel Trading Up 0.5 %

NYSE HXL opened at $67.00 on Wednesday. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 1.63. Hexcel Co. has a 12 month low of $52.56 and a 12 month high of $79.08. The company’s fifty day moving average price is $68.94 and its two-hundred day moving average price is $70.85.

Hexcel (NYSE:HXL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The aerospace company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $454.30 million for the quarter, compared to analysts’ expectations of $450.15 million. Hexcel had a net margin of 8.73% and a return on equity of 9.40%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. As a group, research analysts predict that Hexcel Co. will post 1.92 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, August 4th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.75%. Hexcel’s dividend payout ratio (DPR) is 28.74%.

Insider Activity at Hexcel

In other Hexcel news, insider Gail E. Lehman sold 1,571 shares of Hexcel stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $70.15, for a total value of $110,205.65. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

HXL has been the subject of several recent research reports. Truist Financial lowered their price target on Hexcel from $73.00 to $71.00 in a report on Wednesday, July 26th. BMO Capital Markets reduced their price target on Hexcel from $74.00 to $73.00 and set a “market perform” rating on the stock in a research report on Monday, August 7th. Royal Bank of Canada raised shares of Hexcel from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $75.00 to $85.00 in a research report on Tuesday, August 15th. StockNews.com began coverage on shares of Hexcel in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Wolfe Research raised shares of Hexcel from a “peer perform” rating to an “outperform” rating and set a $83.00 price target for the company in a report on Thursday, August 17th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Hexcel presently has a consensus rating of “Hold” and an average price target of $76.00.

Get Our Latest Analysis on Hexcel

Hexcel Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

Receive News & Ratings for Hexcel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hexcel and related companies with MarketBeat.com's FREE daily email newsletter.