Earnest Partners LLC cut its position in shares of Hexcel Co. (NYSE:HXL) by 4.4% in the second quarter, HoldingsChannel reports. The firm owned 2,647,087 shares of the aerospace company’s stock after selling 122,097 shares during the period. Hexcel comprises about 1.9% of Earnest Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Earnest Partners LLC’s holdings in Hexcel were worth $214,096,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning grew its stake in Hexcel by 4.3% during the 2nd quarter. Creative Planning now owns 3,034 shares of the aerospace company’s stock worth $245,000 after buying an additional 124 shares during the last quarter. Machina Capital S.A.S. grew its position in shares of Hexcel by 22.4% in the second quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock valued at $60,000 after purchasing an additional 136 shares in the last quarter. First Allied Advisory Services Inc. grew its position in shares of Hexcel by 7.9% in the second quarter. First Allied Advisory Services Inc. now owns 3,239 shares of the aerospace company’s stock valued at $262,000 after purchasing an additional 237 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Hexcel by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 96,982 shares of the aerospace company’s stock valued at $6,707,000 after purchasing an additional 260 shares in the last quarter. Finally, Comerica Bank grew its position in Hexcel by 4.7% in the first quarter. Comerica Bank now owns 5,892 shares of the aerospace company’s stock worth $401,000 after acquiring an additional 266 shares during the period. 95.03% of the stock is owned by institutional investors and hedge funds.
Shares of HXL opened at $81.38 on Friday. The company’s fifty day moving average is $81.91 and its 200-day moving average is $75.47. Hexcel Co. has a 12 month low of $53.50 and a 12 month high of $87.00. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.27 and a beta of 1.04. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 0.77.
Hexcel (NYSE:HXL) last issued its quarterly earnings results 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. Hexcel had a net margin of 12.90% and a return on equity of 21.45%. The firm had revenue of $609.00 million during the quarter, compared to the consensus estimate of $606.03 million. During the same period in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 11.2% on a year-over-year basis. As a group, research analysts predict that Hexcel Co. will post 3.52 earnings per share for the current fiscal year.
Several analysts have recently issued reports on HXL shares. UBS Group upgraded Hexcel from a “sell” rating to a “neutral” rating and increased their price objective for the company from $67.00 to $76.00 in a research note on Thursday, May 23rd. ValuEngine lowered Hexcel from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays reissued a “hold” rating and set a $77.00 price target on shares of Hexcel in a report on Sunday, May 26th. Goldman Sachs Group downgraded shares of Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Friday, August 16th. Finally, Credit Suisse Group lifted their price objective on Hexcel from $72.00 to $79.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $81.05.
In related news, insider Brett Raymond Schneider sold 4,417 shares of Hexcel stock in a transaction dated Wednesday, August 21st. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert George Hennemuth sold 37,544 shares of Hexcel stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $83.56, for a total transaction of $3,137,176.64. Following the transaction, the insider now directly owns 73,046 shares of the company’s stock, valued at $6,103,723.76. The disclosure for this sale can be found here. Insiders have sold a total of 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 insiders.
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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