New York State Common Retirement Fund Buys 143,674 Shares of Hexcel Corporation (HXL)
New York State Common Retirement Fund lifted its stake in Hexcel Corporation (NYSE:HXL) by 15.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,098,570 shares of the aerospace company’s stock after purchasing an additional 143,674 shares during the period. New York State Common Retirement Fund owned about 1.22% of Hexcel worth $63,080,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. AHL Partners LLP purchased a new stake in Hexcel during the 2nd quarter worth $207,000. Torray LLC boosted its holdings in Hexcel by 2.8% during the second quarter. Torray LLC now owns 14,775 shares of the aerospace company’s stock worth $780,000 after buying an additional 403 shares in the last quarter. Markel Corp boosted its stake in Hexcel by 32.3% in the 3rd quarter. Markel Corp now owns 86,000 shares of the aerospace company’s stock worth $4,938,000 after purchasing an additional 21,000 shares during the period. BlackRock Inc. boosted its stake in Hexcel by 5.0% in the 2nd quarter. BlackRock Inc. now owns 4,924,139 shares of the aerospace company’s stock worth $259,946,000 after purchasing an additional 233,521 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Hexcel by 13.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 28,200 shares of the aerospace company’s stock worth $1,490,000 after buying an additional 3,279 shares in the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.
In other Hexcel news, SVP Kimberly A. Hendricks sold 2,608 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $63.35, for a total transaction of $165,216.80. Following the sale, the senior vice president now directly owns 22,221 shares in the company, valued at $1,407,700.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Brubaker sold 6,948 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $61.67, for a total transaction of $428,483.16. Following the sale, the director now owns 7,107 shares in the company, valued at $438,288.69. The disclosure for this sale can be found here. Insiders sold 13,304 shares of company stock worth $823,040 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.
Hexcel Corporation (NYSE HXL) traded down $0.54 during trading on Tuesday, hitting $60.68. 401,200 shares of the stock traded hands, compared to its average volume of 582,749. The firm has a market capitalization of $5,499.12, a PE ratio of 23.37, a PEG ratio of 2.89 and a beta of 1.10. Hexcel Corporation has a 12 month low of $49.20 and a 12 month high of $63.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 1.53.
Hexcel (NYSE:HXL) last announced its earnings results on Wednesday, October 18th. The aerospace company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Hexcel had a net margin of 13.13% and a return on equity of 18.40%. The business had revenue of $491.50 million during the quarter, compared to analysts’ expectations of $507.77 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. equities research analysts forecast that Hexcel Corporation will post 2.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Wednesday, November 1st were paid a $0.125 dividend. The ex-dividend date was Tuesday, October 31st. This represents a $0.50 annualized dividend and a dividend yield of 0.82%. Hexcel’s dividend payout ratio (DPR) is presently 18.05%.
A number of research analysts have recently weighed in on HXL shares. Cowen restated a “buy” rating and set a $57.00 price target on shares of Hexcel in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Hexcel from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. KeyCorp restated a “buy” rating and issued a $60.00 price target on shares of Hexcel in a research report on Friday, September 1st. Loop Capital started coverage on shares of Hexcel in a research report on Thursday, September 28th. They issued a “hold” rating and a $61.00 price target on the stock. Finally, Canaccord Genuity reiterated a “hold” rating and set a $54.00 target price on shares of Hexcel in a research report on Friday, September 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $60.11.
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Hexcel Company Profile
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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