Corebridge Financial Inc. Reduces Holdings in Hexcel Co. (NYSE:HXL)

Corebridge Financial Inc. lowered its stake in shares of Hexcel Co. (NYSE:HXL) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,659 shares of the aerospace company’s stock after selling 5,009 shares during the quarter. Corebridge Financial Inc.’s holdings in Hexcel were worth $5,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. increased its stake in Hexcel by 9.0% during the 4th quarter. Sei Investments Co. now owns 1,482,249 shares of the aerospace company’s stock valued at $92,938,000 after purchasing an additional 122,281 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of Hexcel by 99.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company’s stock valued at $81,803,000 after buying an additional 651,062 shares during the last quarter. American Century Companies Inc. increased its position in shares of Hexcel by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,198,136 shares of the aerospace company’s stock valued at $75,123,000 after acquiring an additional 480,207 shares during the period. Channing Capital Management LLC raised its stake in Hexcel by 10.3% in the 4th quarter. Channing Capital Management LLC now owns 1,128,681 shares of the aerospace company’s stock worth $70,768,000 after acquiring an additional 105,510 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Hexcel by 2.3% during 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 acquiring an additional 24,133 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Trading Down 3.1 %

Shares of Hexcel stock opened at $56.28 on Friday. Hexcel Co. has a fifty-two week low of $55.25 and a fifty-two week high of $73.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. The company has a market cap of $4.52 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The firm has a 50-day simple moving average of $62.23 and a two-hundred day simple moving average of $62.17.

Hexcel (NYSE:HXL) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Hexcel had a return on equity of 10.66% and a net margin of 6.94%. As a group, equities analysts predict that Hexcel Co. will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is presently 42.77%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HXL shares. TD Cowen raised Hexcel to a “hold” rating in a report on Monday, February 24th. Truist Financial cut their price target on shares of Hexcel from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Hexcel has a consensus rating of “Hold” and a consensus target price of $72.64.

Hexcel 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.