Bank of America Corp DE raised its holdings in shares of Hexcel Co. (NYSE:HXL) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,988,626 shares of the aerospace company’s stock after purchasing an additional 40,672 shares during the period. Bank of America Corp DE’s holdings in Hexcel were worth $132,005,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in Hexcel by 441.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,237 shares of the aerospace company’s stock valued at $148,000 after purchasing an additional 1,824 shares during the period. Bank of New York Mellon Corp lifted its position in Hexcel by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 739,407 shares of the aerospace company’s stock valued at $49,082,000 after purchasing an additional 43,029 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Hexcel by 5.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 638,077 shares of the aerospace company’s stock valued at $42,356,000 after purchasing an additional 34,846 shares during the period. Richard Bernstein Advisors LLC acquired a new position in Hexcel during the 2nd quarter valued at about $4,220,000. Finally, Swiss National Bank lifted its position in Hexcel by 2.8% during the 1st quarter. Swiss National Bank now owns 156,400 shares of the aerospace company’s stock valued at $10,102,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 98.10% of the company’s stock.
HXL has been the topic of a number of research reports. UBS Group initiated coverage on shares of Hexcel in a research report on Wednesday, August 15th. They set a “sell” rating and a $65.00 target price on the stock. Canaccord Genuity upgraded shares of Hexcel from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Thursday, July 5th. Cowen restated a “buy” rating and set a $75.00 target price on shares of Hexcel in a research report on Tuesday, June 12th. Stephens set a $80.00 target price on shares of Hexcel and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, ValuEngine downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.17.
Shares of NYSE:HXL opened at $67.25 on Friday. The company has a market capitalization of $5.72 billion, a P/E ratio of 25.09, a PEG ratio of 2.55 and a beta of 1.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.37 and a current ratio of 2.41. Hexcel Co. has a fifty-two week low of $54.17 and a fifty-two week high of $73.42.
Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, July 23rd. The aerospace company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $547.50 million for the quarter, compared to the consensus estimate of $541.92 million. Hexcel had a net margin of 13.78% and a return on equity of 17.56%. Hexcel’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. analysts forecast that Hexcel Co. will post 3.03 EPS for the current fiscal year.
In other news, Director Jeffrey A. Graves purchased 1,550 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average cost of $69.00 per share, for a total transaction of $106,950.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $207,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. The company operates in two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycombs, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blade, recreational product, and other industrial applications, as well as in cars, boats, and trains.
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