State of Michigan Retirement System Sells 200 Shares of Hexcel Co. (NYSE:HXL)

State of Michigan Retirement System lessened its holdings in shares of Hexcel Co. (NYSE:HXL) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,197 shares of the aerospace company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Hexcel were worth $1,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HXL. Insigneo Advisory Services LLC lifted its holdings in Hexcel by 3.7% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,859 shares of the aerospace company’s stock worth $300,000 after buying an additional 172 shares in the last quarter. UMB Bank n.a. raised its position in shares of Hexcel by 1.4% during the fourth quarter. UMB Bank n.a. now owns 14,766 shares of the aerospace company’s stock worth $926,000 after acquiring an additional 202 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Hexcel by 21.1% during the fourth quarter. GAMMA Investing LLC now owns 1,181 shares of the aerospace company’s stock valued at $74,000 after acquiring an additional 206 shares during the period. Huntington National Bank lifted its stake in shares of Hexcel by 30.8% during the third quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 225 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Hexcel by 0.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 43,511 shares of the aerospace company’s stock valued at $2,728,000 after acquiring an additional 232 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Hexcel Stock Performance

HXL stock opened at $58.30 on Monday. Hexcel Co. has a 1-year low of $56.85 and a 1-year high of $77.08. The company has a current ratio of 2.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm has a market cap of $4.73 billion, a PE ratio of 36.67, a P/E/G ratio of 1.72 and a beta of 1.30. The business’s 50-day moving average price is $64.47 and its two-hundred day moving average price is $62.72.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. As a group, research analysts forecast that Hexcel Co. will post 2.14 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.17 dividend. This is an increase from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, February 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. Hexcel’s dividend payout ratio (DPR) is currently 42.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HXL shares. Wells Fargo & Company upped their target price on shares of Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. StockNews.com lowered shares of Hexcel from a “buy” rating to a “hold” rating in a report on Friday. TD Cowen raised shares of Hexcel to a “hold” rating in a report on Monday, February 24th. Truist Financial upped their target price on shares of Hexcel from $76.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada raised their price target on Hexcel from $74.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hexcel has an average rating of “Hold” and a consensus target price of $73.09.

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.