State of New Jersey Common Pension Fund D Purchases 4,626 Shares of Hexcel Co. (NYSE:HXL)

State of New Jersey Common Pension Fund D boosted its position in shares of Hexcel Co. (NYSE:HXL - Free Report) by 14.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,712 shares of the aerospace company's stock after acquiring an additional 4,626 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Hexcel were worth $2,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Hexcel by 36.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,600,619 shares of the aerospace company's stock valued at $98,966,000 after purchasing an additional 425,402 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hexcel by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,727 shares of the aerospace company's stock valued at $65,585,000 after purchasing an additional 10,479 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Hexcel by 34.8% in the third quarter. Ceredex Value Advisors LLC now owns 973,352 shares of the aerospace company's stock valued at $60,182,000 after purchasing an additional 251,062 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Hexcel by 52.1% in the third quarter. The Manufacturers Life Insurance Company now owns 586,217 shares of the aerospace company's stock valued at $36,246,000 after purchasing an additional 200,722 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Hexcel by 12.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 581,557 shares of the aerospace company's stock valued at $35,957,000 after purchasing an additional 63,730 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of Hexcel from $70.00 to $68.00 and set a "market perform" rating on the stock in a report on Monday, October 28th. UBS Group upped their price target on shares of Hexcel from $67.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Truist Financial upped their price target on shares of Hexcel from $76.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Royal Bank of Canada upped their price target 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. Finally, TD Cowen upgraded shares of Hexcel to a "hold" rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $73.09.

Hexcel Trading Down 2.2 %

HXL opened at $62.68 on Friday. Hexcel Co. has a twelve month low of $57.50 and a twelve month high of $77.09. The company has a 50-day simple moving average of $64.88 and a 200 day simple moving average of $62.80. The company has a quick ratio of 1.20, a current ratio of 2.21 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 39.42, a P/E/G ratio of 1.86 and a beta of 1.31.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $0.52 earnings per share 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%. Analysts predict that Hexcel Co. will post 2.14 EPS for the current fiscal year.

Hexcel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost from Hexcel's previous quarterly dividend of $0.15. Hexcel's dividend payout ratio is 42.77%.

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.

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