Virginia Retirement Systems ET AL lowered its position in Hexcel Co. (NYSE:HXL) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,100 shares of the aerospace company’s stock after selling 500 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Hexcel were worth $2,192,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in HXL. Two Sigma Advisers LP bought a new position in shares of Hexcel during the 4th quarter worth $370,000. Legal & General Group Plc grew its stake in shares of Hexcel by 9.1% during the 4th quarter. Legal & General Group Plc now owns 62,988 shares of the aerospace company’s stock worth $3,612,000 after acquiring an additional 5,254 shares during the period. Norges Bank bought a new position in shares of Hexcel during the 4th quarter worth $44,235,000. Geode Capital Management LLC boosted its stake in Hexcel by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 825,656 shares of the aerospace company’s stock worth $47,343,000 after purchasing an additional 38,230 shares during the period. Finally, Deutsche Bank AG boosted its stake in Hexcel by 41.1% in the 4th quarter. Deutsche Bank AG now owns 100,018 shares of the aerospace company’s stock worth $5,732,000 after purchasing an additional 29,118 shares during the period. 92.37% of the stock is currently owned by institutional investors.
Shares of NYSE HXL traded down $0.06 during trading hours on Friday, reaching $81.32. 361,606 shares of the stock traded hands, compared to its average volume of 496,749. The stock has a market cap of $6.92 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.22 and a quick ratio of 1.28. Hexcel Co. has a 52-week low of $53.50 and a 52-week high of $85.63. The business’s 50-day moving average is $80.81.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.84%. This is a boost from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, August 1st. Hexcel’s dividend payout ratio (DPR) is currently 22.30%.
Several research analysts have commented on HXL shares. KeyCorp raised their target price on Hexcel from $86.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group upgraded Hexcel from a “sell” rating to a “neutral” rating and raised their target price for the stock from $67.00 to $76.00 in a research note on Thursday, May 23rd. ValuEngine downgraded Hexcel from a “buy” rating to a “hold” rating in a research note on Tuesday. Bank of America restated a “buy” rating and issued a $90.00 target price (down previously from $95.00) on shares of Hexcel in a research note on Wednesday, July 24th. Finally, Zacks Investment Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Tuesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $81.78.
In related news, insider Kimberly A. Hendricks sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $76.00, for a total transaction of $266,000.00. Following the transaction, the insider now directly owns 30,843 shares of the company’s stock, valued at approximately $2,344,068. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thierry Merlot sold 6,100 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.71, for a total value of $449,631.00. Following the transaction, the insider now directly owns 33,864 shares in the company, valued at $2,496,115.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,333 shares of company stock worth $770,283. 1.40% of the stock is currently owned by insiders.
Hexcel Company Profile
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates in two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in cars, boats, and trains.
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