GSA Capital Partners LLP trimmed its holdings in Hexcel Co. (NYSE:HXL) by 59.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,733 shares of the aerospace company’s stock after selling 25,636 shares during the quarter. GSA Capital Partners LLP’s holdings in Hexcel were worth $1,434,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Eagle Asset Management Inc. grew its holdings in Hexcel by 2.8% in the 1st 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. grew its holdings in Hexcel by 15.3% in the 1st quarter. Carillon Tower Advisers Inc. now owns 1,959,143 shares of the aerospace company’s stock worth $135,493,000 after buying an additional 259,288 shares in the last quarter. Ownership Capital B.V. grew its holdings in Hexcel by 2.0% in the 2nd quarter. Ownership Capital B.V. now owns 1,604,175 shares of the aerospace company’s stock worth $129,746,000 after buying an additional 31,982 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in Hexcel by 12.6% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,506,260 shares of the aerospace company’s stock worth $121,826,000 after buying an additional 168,360 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Hexcel by 9.1% in the 1st quarter. Jennison Associates LLC now owns 1,388,147 shares of the aerospace company’s stock worth $96,004,000 after buying an additional 115,448 shares in the last quarter. 93.67% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. KeyCorp upped their target price on Hexcel from $86.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $90.00 price target (down from $95.00) on shares of Hexcel in a research note on Wednesday, July 24th. Goldman Sachs Group lowered Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research note on Friday, August 16th. UBS Group raised Hexcel from a “sell” rating to a “neutral” rating and increased their price target for the company from $67.00 to $76.00 in a research note on Thursday, May 23rd. Finally, Zacks Investment Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Tuesday, July 2nd. One 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $81.05.
Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, July 22nd. The aerospace company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The firm had revenue of $609.00 million during the quarter, compared to analyst estimates of $606.03 million. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. As a group, equities research analysts forecast that Hexcel Co. will post 3.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, August 1st. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 0.85%. Hexcel’s dividend payout ratio (DPR) is currently 22.30%.
In other news, insider Thierry Merlot sold 6,100 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $73.71, for a total transaction of $449,631.00. Following the completion of the sale, the insider now directly owns 33,864 shares of the company’s stock, valued at approximately $2,496,115.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kimberly A. Hendricks sold 3,500 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $76.00, for a total value of $266,000.00. Following the sale, the insider now directly owns 30,843 shares of the company’s stock, valued at $2,344,068. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,017 shares of company stock valued at $1,076,102. Corporate insiders own 1.40% of the company’s stock.
Hexcel Company 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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