First Quadrant L P CA bought a new position in Hexcel Co. (NYSE:HXL) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,467 shares of the aerospace company’s stock, valued at approximately $292,000.
Several other hedge funds have also recently modified their holdings of HXL. Atlanta Capital Management Co. L L C increased its holdings in shares of Hexcel by 105.3% in the first 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 purchasing an additional 1,987,867 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Hexcel in the first quarter worth about $54,885,000. Norges Bank bought a new stake in shares of Hexcel in the fourth quarter worth about $81,994,000. Ardevora Asset Management LLP bought a new stake in shares of Hexcel in the second quarter worth about $39,202,000. Finally, Wells Fargo & Company MN increased its stake in Hexcel by 99.8% during the first 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 last quarter. 95.29% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on HXL shares. Goldman Sachs Group reissued a “neutral” rating and set a $30.00 price objective on shares of Hexcel in a research note on Wednesday, April 15th. UBS Group reduced their price objective on Hexcel from $68.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Cowen reissued a “hold” rating and set a $35.00 price objective on shares of Hexcel in a research note on Monday, April 27th. Royal Bank of Canada started coverage on Hexcel in a research note on Friday, June 26th. They set an “outperform” rating and a $52.00 price objective on the stock. Finally, Canaccord Genuity boosted their price objective on Hexcel from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.67.
HXL opened at $37.30 on Friday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 5.58 and a beta of 1.26. The stock’s 50 day moving average price is $43.92 and its 200-day moving average price is $48.25. Hexcel Co. has a one year low of $24.54 and a one year high of $87.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.21 and a current ratio of 3.86.
Hexcel (NYSE:HXL) last posted its earnings results on Monday, July 27th. The aerospace company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.12). The company had revenue of $378.70 million for the quarter, compared to analysts’ expectations of $372.66 million. Hexcel had a return on equity of 14.73% and a net margin of 9.48%. The firm’s quarterly revenue was down 37.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, analysts predict that Hexcel Co. will post 1.19 earnings per share for the current fiscal year.
In other Hexcel news, insider Thierry Merlot sold 10,810 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $36.44, for a total transaction of $393,916.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.
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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