World Asset Management Inc bought a new position in Hexcel Co. (NYSE:HXL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,771 shares of the aerospace company’s stock, valued at approximately $216,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Atlanta Capital Management Co. L L C lifted its stake in shares of Hexcel by 105.3% in the 1st quarter. Atlanta Capital Management Co. L L C now owns 3,876,201 shares of the aerospace company’s stock worth $144,156,000 after acquiring an additional 1,987,867 shares during the period. Eaton Vance Management lifted its stake in shares of Hexcel by 28.8% in the 1st quarter. Eaton Vance Management now owns 2,408,887 shares of the aerospace company’s stock worth $89,361,000 after acquiring an additional 538,407 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Hexcel by 99.8% in the 1st quarter. Wells Fargo & Company MN now owns 1,714,661 shares of the aerospace company’s stock worth $63,768,000 after acquiring an additional 856,279 shares during the period. Timucuan Asset Management Inc. FL lifted its stake in shares of Hexcel by 44.4% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 1,525,487 shares of the aerospace company’s stock worth $56,733,000 after acquiring an additional 469,272 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of Hexcel in the 1st quarter worth $54,885,000. Institutional investors own 95.29% of the company’s stock.
In other Hexcel news, insider Thierry Merlot sold 10,810 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $36.44, for a total transaction of $393,916.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.
A number of equities analysts have recently issued reports on HXL shares. Jefferies Financial Group cut their price target on shares of Hexcel from $80.00 to $35.00 in a report on Tuesday, April 7th. Barclays cut their price target on shares of Hexcel from $35.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, April 22nd. UBS Group cut their price target on shares of Hexcel from $68.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, April 17th. KeyCorp reiterated a “buy” rating and issued a $55.00 price target on shares of Hexcel in a report on Wednesday. Finally, BMO Capital Markets upgraded shares of Hexcel from a “market perform” rating to an “outperform” rating and increased their price target for the company from $45.00 to $55.00 in a report on Friday, June 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Hexcel has an average rating of “Hold” and an average price target of $42.67.
NYSE:HXL opened at $37.30 on Friday. The company has a current ratio of 3.86, a quick ratio of 2.21 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average price of $43.92 and a two-hundred day moving average price of $48.25. Hexcel Co. has a twelve month low of $24.54 and a twelve month high of $87.00. The company has a market capitalization of $3.11 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 5.12 and a beta of 1.26.
Hexcel (NYSE:HXL) last released its quarterly earnings results on Monday, July 27th. The aerospace company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.12). Hexcel had a return on equity of 14.73% and a net margin of 9.48%. The firm had revenue of $378.70 million for the quarter, compared to analyst estimates of $372.66 million. During the same period in the prior year, the business earned $0.94 earnings per share. Hexcel’s revenue for the quarter was down 37.8% on a year-over-year basis. On average, equities research analysts predict that Hexcel Co. will post 1.38 earnings per share for the current year.
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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