Corebridge Financial Inc. Sells 5,009 Shares of Hexcel Co. (NYSE:HXL)

Corebridge Financial Inc. cut its stake in Hexcel Co. (NYSE:HXL) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,659 shares of the aerospace company’s stock after selling 5,009 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Hexcel worth $5,747,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on Hexcel from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, January 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 report on Friday, January 24th. StockNews.com upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Finally, TD Cowen raised shares of Hexcel to a “hold” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $72.64.

Hexcel Stock Down 3.1 %

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

Hexcel (NYSE:HXL) last issued its quarterly earnings data 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%. On average, analysts forecast that Hexcel Co. will post 2.14 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given a $0.17 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is presently 42.77%.

About Hexcel

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.