Public Employees Retirement System of Ohio Lowers Stake in Hexcel Co. (NYSE:HXL)

Public Employees Retirement System of Ohio cut its stake in Hexcel Co. (NYSE:HXL) by 5.1% in the 4th quarter, Holdings Channel reports. The fund owned 29,137 shares of the aerospace company’s stock after selling 1,579 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Hexcel were worth $1,827,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in Hexcel by 32.1% during the third quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock worth $4,330,000 after purchasing an additional 17,011 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Hexcel by 8.0% during the 4th quarter. Blue Trust Inc. now owns 6,158 shares of the aerospace company’s stock valued at $381,000 after buying an additional 454 shares in the last quarter. KBC Group NV lifted its position in Hexcel by 57.6% in the 4th quarter. KBC Group NV now owns 3,568 shares of the aerospace company’s stock worth $224,000 after buying an additional 1,304 shares during the last quarter. OLD National Bancorp IN boosted its stake in Hexcel by 20.3% in the fourth quarter. OLD National Bancorp IN now owns 4,091 shares of the aerospace company’s stock worth $257,000 after buying an additional 691 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its position in Hexcel by 1,153.9% during the fourth quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company’s stock valued at $33,546,000 after acquiring an additional 493,218 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Down 0.8%

Shares of NYSE:HXL opened at $52.94 on Monday. The stock’s 50-day moving average is $51.98 and its 200 day moving average is $59.03. The company has a market cap of $4.26 billion, a PE ratio of 33.30, a P/E/G ratio of 1.72 and a beta of 1.28. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20. Hexcel Co. has a 1 year low of $45.28 and a 1 year high of $71.05.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, April 21st. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). Hexcel had a return on equity of 10.66% and a net margin of 6.94%. The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $482.18 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. Sell-side analysts anticipate that Hexcel Co. will post 2.14 EPS for the current year.

Hexcel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were issued a $0.17 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.68 annualized dividend and a yield of 1.28%. Hexcel’s dividend payout ratio (DPR) is presently 45.03%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HXL shares. Morgan Stanley cut their price objective on shares of Hexcel from $61.00 to $50.00 and set an “underperform” rating for the company in a research note on Friday, April 11th. Royal Bank of Canada reduced their price objective on Hexcel from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen lowered Hexcel from a “buy” rating to a “hold” rating in a research note on Sunday, April 27th. Barclays dropped their target price on Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, TD Cowen raised Hexcel to a “hold” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Hexcel currently has an average rating of “Hold” and an average price target of $61.20.

Hexcel Company Profile

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.