American Century Companies Inc. cut its position in shares of Hexcel Corporation (NYSE:HXL) by 29.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 210,782 shares of the aerospace company’s stock after selling 89,536 shares during the period. American Century Companies Inc. owned about 0.23% of Hexcel worth $12,103,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its position in shares of Hexcel by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock worth $163,000 after acquiring an additional 200 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Hexcel in the 2nd quarter worth $202,000. Pacad Investment Ltd. bought a new position in shares of Hexcel in the 2nd quarter worth $206,000. AHL Partners LLP bought a new position in shares of Hexcel in the 2nd quarter worth $207,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Hexcel in the 3rd quarter worth $207,000. 96.67% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Kimberly A. Hendricks sold 2,608 shares of Hexcel stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $63.35, for a total transaction of $165,216.80. Following the completion of the transaction, the senior vice president now directly owns 22,221 shares of the company’s stock, valued at approximately $1,407,700.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thierry Merlot sold 3,748 shares of Hexcel stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.19, for a total transaction of $229,340.12. Following the transaction, the insider now directly owns 13,691 shares of the company’s stock, valued at $837,752.29. The disclosure for this sale can be found here. Insiders sold a total of 13,304 shares of company stock worth $823,040 over the last 90 days. Company insiders own 2.10% of the company’s stock.
HXL has been the topic of several research analyst reports. Cowen restated a “buy” rating and set a $57.00 target price on shares of Hexcel in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Hexcel from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. KeyCorp reissued a “buy” rating and set a $60.00 target price on shares of Hexcel in a report on Friday, September 1st. Loop Capital began coverage on Hexcel in a research report on Thursday, September 28th. They issued a “hold” rating and a $61.00 price objective for the company. Finally, Canaccord Genuity restated a “hold” rating and issued a $54.00 price target on shares of Hexcel in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $60.11.
Shares of Hexcel Corporation (NYSE HXL) traded down $0.54 during trading hours on Monday, hitting $60.68. 401,280 shares of the company traded hands, compared to its average volume of 582,749. The company has a current ratio of 2.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.58. The stock has a market cap of $5,500.00, a P/E ratio of 23.37, a PEG ratio of 2.89 and a beta of 1.09. Hexcel Corporation has a fifty-two week low of $49.20 and a fifty-two week high of $63.93.
Hexcel (NYSE:HXL) last issued its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $491.50 million during the quarter, compared to the consensus estimate of $507.77 million. Hexcel had a net margin of 13.13% and a return on equity of 18.40%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. sell-side analysts predict that Hexcel Corporation will post 2.67 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Wednesday, November 1st were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.50 dividend on an annualized basis and a yield of 0.82%. Hexcel’s payout ratio is presently 18.05%.
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Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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