Quest Capital Management Inc. ADV lowered its stake in shares of Hexcel Co. (NYSE:HXL) by 98.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,359 shares of the aerospace company’s stock after selling 308,529 shares during the period. Quest Capital Management Inc. ADV’s holdings in Hexcel were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its holdings in Hexcel by 2.8% during the first quarter. Eagle Asset Management Inc. now owns 2,299,290 shares of the aerospace company’s stock worth $159,018,000 after buying an additional 62,577 shares in the last quarter. Carillon Tower Advisers Inc. lifted its holdings in shares of Hexcel by 15.3% in the first quarter. Carillon Tower Advisers Inc. now owns 1,959,143 shares of the aerospace company’s stock valued at $135,493,000 after purchasing an additional 259,288 shares in the last quarter. Ownership Capital B.V. lifted its holdings in shares of Hexcel by 2.0% in the second quarter. Ownership Capital B.V. now owns 1,604,175 shares of the aerospace company’s stock valued at $129,746,000 after purchasing an additional 31,982 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of Hexcel by 12.6% in the second quarter. TimesSquare Capital Management LLC now owns 1,506,260 shares of the aerospace company’s stock valued at $121,826,000 after purchasing an additional 168,360 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Hexcel by 9.1% in the first quarter. Jennison Associates LLC now owns 1,388,147 shares of the aerospace company’s stock valued at $96,004,000 after purchasing an additional 115,448 shares in the last quarter. 93.67% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Kimberly A. Hendricks sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $76.00, for a total value of $266,000.00. Following the completion of the transaction, the insider now owns 30,843 shares of the company’s stock, valued at $2,344,068. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thierry Merlot sold 6,100 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $73.71, for a total transaction of $449,631.00. Following the completion of the transaction, the insider now directly owns 33,864 shares of the company’s stock, valued at approximately $2,496,115.44. The disclosure for this sale can be found here. In the last three months, insiders sold 10,333 shares of company stock valued at $770,283. Company insiders own 1.40% of the company’s stock.
Shares of NYSE:HXL traded down $0.12 during trading on Tuesday, reaching $81.37. The stock had a trading volume of 3,281 shares, compared to its average volume of 501,217. The business has a fifty day moving average price of $81.02 and a 200-day moving average price of $74.03. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 0.77. The stock has a market cap of $6.89 billion, a P/E ratio of 26.47, a PEG ratio of 2.21 and a beta of 1.09. Hexcel Co. has a fifty-two week low of $53.50 and a fifty-two week high of $85.63.
Hexcel (NYSE:HXL) last posted its quarterly earnings data on Monday, July 22nd. The aerospace company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $609.00 million during the quarter, compared to analyst estimates of $606.03 million. Hexcel had a net margin of 12.90% and a return on equity of 21.45%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that Hexcel Co. will post 3.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, August 1st. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is currently 22.30%.
Several analysts have issued reports on HXL shares. Zacks Investment Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Tuesday, July 2nd. Barclays reaffirmed a “hold” rating and issued a $77.00 price target on shares of Hexcel in a report on Sunday, May 26th. Canaccord Genuity upped their price target on shares of Hexcel from $90.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. KeyCorp upped their price target on shares of Hexcel from $86.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Cowen reaffirmed a “buy” rating and issued a $75.00 price target on shares of Hexcel in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $81.05.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It 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, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in cars, boats, and trains.
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