Mutual of America Capital Management LLC Sells 3,406 Shares of Hexcel Co. (NYSE:HXL)

Mutual of America Capital Management LLC cut its stake in Hexcel Co. (NYSE:HXL) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,182 shares of the aerospace company’s stock after selling 3,406 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Hexcel worth $2,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Hexcel during the 3rd quarter valued at about $56,000. Huntington National Bank increased its holdings in Hexcel by 30.8% during the 3rd quarter. Huntington National Bank now owns 955 shares of the aerospace company’s stock worth $59,000 after acquiring an additional 225 shares during the period. Eastern Bank purchased a new stake in Hexcel in the 3rd quarter worth approximately $62,000. GAMMA Investing LLC boosted its holdings in Hexcel by 34.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after purchasing an additional 276 shares during the period. Finally, Whittier Trust Co. grew its position in shares of Hexcel by 38.9% during the 3rd quarter. Whittier Trust Co. now owns 1,490 shares of the aerospace company’s stock valued at $92,000 after purchasing an additional 417 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

Hexcel Stock Up 2.8 %

Shares of NYSE:HXL opened at $61.19 on Friday. The stock has a market capitalization of $4.96 billion, a P/E ratio of 46.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. Hexcel Co. has a 12-month low of $57.50 and a 12-month high of $77.09. The stock’s 50-day moving average price is $60.97 and its 200-day moving average price is $63.61. The company has a current ratio of 2.76, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last posted its earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The company had revenue of $457.00 million during the quarter, compared to analyst estimates of $457.07 million. During the same period in the prior year, the business posted $0.38 earnings per share. Hexcel’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts anticipate that Hexcel Co. will post 2.02 earnings per share for the current year.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s payout ratio is 45.80%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HXL shares. UBS Group increased their price objective on Hexcel from $67.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. 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 research report on Monday, October 28th. Truist Financial dropped their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hexcel from $63.00 to $60.00 and set a “hold” rating on the stock in a report on Thursday. Two 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.31.

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.