Weybosset Research & Management LLC increased its position in shares of Hexcel Co. (NYSE:HXL) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,170 shares of the aerospace company’s stock after buying an additional 3,250 shares during the period. Hexcel comprises approximately 3.0% of Weybosset Research & Management LLC’s holdings, making the stock its 18th largest holding. Weybosset Research & Management LLC owned about 0.07% of Hexcel worth $5,188,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in HXL. Nuveen Asset Management LLC purchased a new position in Hexcel in the second quarter valued at about $83,589,000. Atlanta Capital Management Co. L L C purchased a new position in Hexcel in the second quarter valued at about $63,334,000. Invesco Ltd. grew its stake in Hexcel by 215.2% in the second quarter. Invesco Ltd. now owns 1,132,300 shares of the aerospace company’s stock valued at $91,580,000 after purchasing an additional 773,112 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in 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 during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Hexcel by 21.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 815,343 shares of the aerospace company’s stock valued at $65,945,000 after purchasing an additional 144,760 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
Shares of Hexcel stock traded up $0.21 on Wednesday, reaching $78.23. 402,072 shares of the stock were exchanged, compared to its average volume of 486,805. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 0.79. Hexcel Co. has a twelve month low of $53.50 and a twelve month high of $87.00. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.32 and a beta of 1.00. The business has a 50 day moving average price of $77.01 and a two-hundred day moving average price of $78.06.
Hexcel (NYSE:HXL) last released its earnings results on Monday, October 21st. The aerospace company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. Hexcel had a return on equity of 21.74% and a net margin of 12.73%. The firm had revenue of $572.50 million during the quarter, compared to the consensus estimate of $598.88 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that Hexcel Co. will post 3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, October 31st. Hexcel’s payout ratio is presently 22.30%.
In other news, insider Brett Raymond Schneider sold 4,417 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $81.61, for a total transaction of $360,471.37. Following the completion of the transaction, the insider now directly owns 10,201 shares of the company’s stock, valued at approximately $832,503.61. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nick L. Stanage sold 15,662 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $85.75, for a total value of $1,343,016.50. Following the transaction, the chief executive officer now directly owns 256,853 shares of the company’s stock, valued at $22,025,144.75. The disclosure for this sale can be found here. Insiders sold 57,623 shares of company stock valued at $4,840,665 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
HXL has been the topic of several analyst reports. BMO Capital Markets lifted their target price on Hexcel from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. ValuEngine lowered Hexcel from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Wells Fargo & Co assumed coverage on Hexcel in a research note on Tuesday, October 15th. They set a “market perform” rating and a $85.00 price target on the stock. Goldman Sachs Group lowered Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a research note on Friday, August 16th. Finally, Cowen set a $87.00 price target on Hexcel and gave the stock a “buy” rating in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $82.21.
Hexcel Profile
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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