State Board of Administration of Florida Retirement System increased its position in shares of Hexcel Co. (NYSE:HXL) by 2.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,033 shares of the aerospace company’s stock after buying an additional 2,051 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of Hexcel worth $8,010,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning grew its holdings in Hexcel by 4.3% in the second quarter. Creative Planning now owns 3,034 shares of the aerospace company’s stock worth $245,000 after purchasing an additional 124 shares during the period. Machina Capital S.A.S. grew its holdings in shares of Hexcel by 22.4% during the second quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock valued at $60,000 after buying an additional 136 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of Hexcel by 15.2% during the first quarter. Private Capital Group LLC now owns 1,961 shares of the aerospace company’s stock valued at $136,000 after buying an additional 259 shares during the last quarter. Comerica Bank grew its holdings in shares of Hexcel by 4.7% during the first quarter. Comerica Bank now owns 5,892 shares of the aerospace company’s stock valued at $401,000 after buying an additional 266 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Hexcel by 2.5% during the first quarter. Great West Life Assurance Co. Can now owns 11,241 shares of the aerospace company’s stock valued at $775,000 after buying an additional 270 shares during the last quarter. 93.67% of the stock is owned by institutional investors and hedge funds.
Hexcel stock traded down $0.61 during midday trading on Wednesday, hitting $80.60. 1,657 shares of the stock were exchanged, compared to its average volume of 459,049. Hexcel Co. has a 52-week low of $53.50 and a 52-week high of $85.63. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 2.21 and a beta of 1.09. The business’s 50-day moving average price is $81.03 and its 200-day moving average price is $74.51. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 0.77.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were given a $0.17 dividend. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.68 annualized dividend and a yield of 0.84%. Hexcel’s payout ratio is currently 22.30%.
A number of brokerages have recently issued reports on HXL. Credit Suisse Group lifted their price objective on shares of Hexcel from $72.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity lifted their price objective on shares of Hexcel from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. ValuEngine cut shares of Hexcel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. UBS Group upgraded shares of Hexcel from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $67.00 to $76.00 in a report on Thursday, May 23rd. Finally, Zacks Investment Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Hexcel presently has a consensus rating of “Hold” and a consensus price target of $81.05.
In other news, insider Kimberly A. Hendricks sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $76.00, for a total value of $266,000.00. Following the sale, the insider now owns 30,843 shares of the company’s stock, valued at $2,344,068. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brett Raymond Schneider sold 4,417 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $81.61, for a total transaction of $360,471.37. Following the completion of the sale, the insider now directly owns 10,201 shares in the company, valued at approximately $832,503.61. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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