California Public Employees Retirement System Sells 3,235 Shares of Hexcel Co. (NYSE:HXL)

California Public Employees Retirement System reduced its stake in Hexcel Co. (NYSE:HXL) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 159,049 shares of the aerospace company’s stock after selling 3,235 shares during the quarter. California Public Employees Retirement System’s holdings in Hexcel were worth $9,972,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Barclays PLC lifted its position in shares of Hexcel by 32.1% during the third quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after purchasing an additional 17,011 shares in the last quarter. FMR LLC lifted its position in shares of Hexcel by 11.7% during the 3rd quarter. FMR LLC now owns 77,493 shares of the aerospace company’s stock worth $4,791,000 after buying an additional 8,135 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Hexcel by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock worth $68,021,000 after buying an additional 24,133 shares during the last quarter. Kopion Asset Management LLC grew its holdings in shares of Hexcel by 11.2% in the fourth quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock valued at $6,142,000 after acquiring an additional 9,861 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Hexcel during the fourth quarter valued at approximately $242,000. 95.47% of the stock is currently owned by institutional investors.

Hexcel Price Performance

Hexcel stock opened at $48.27 on Monday. 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 one year low of $46.21 and a one year high of $73.58. The firm has a market capitalization of $3.88 billion, a P/E ratio of 30.36, a PEG ratio of 1.72 and a beta of 1.08. The business has a fifty day moving average price of $60.70 and a 200-day moving average price of $61.91.

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

Hexcel Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, February 7th. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s dividend payout ratio is 42.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HXL. Royal Bank of Canada upped their price objective on Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a research report on Monday, March 17th. Wells Fargo & Company lifted their price objective on shares of Hexcel from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Truist Financial reduced their target price on shares of Hexcel from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Barclays lowered their price target on shares of Hexcel from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.25.

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.