Crestline Management LP bought a new position in shares of Hexcel Corporation (NYSE:HXL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the aerospace company’s stock, valued at approximately $2,871,000. Crestline Management LP owned 0.06% of Hexcel at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in HXL. BlackRock Inc. increased its stake in shares of Hexcel by 5.0% during the second quarter. BlackRock Inc. now owns 4,924,139 shares of the aerospace company’s stock worth $259,946,000 after purchasing an additional 233,521 shares during the period. Schwartz Investment Counsel Inc. increased its stake in shares of Hexcel by 53.0% during the third quarter. Schwartz Investment Counsel Inc. now owns 622,100 shares of the aerospace company’s stock worth $35,721,000 after purchasing an additional 215,600 shares during the period. Schroder Investment Management Group increased its stake in shares of Hexcel by 11.6% during the second quarter. Schroder Investment Management Group now owns 2,000,232 shares of the aerospace company’s stock worth $104,652,000 after purchasing an additional 208,439 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Hexcel by 6.6% during the second quarter. Epoch Investment Partners Inc. now owns 3,246,155 shares of the aerospace company’s stock worth $171,365,000 after purchasing an additional 199,893 shares during the period. Finally, State Street Corp increased its stake in shares of Hexcel by 7.8% during the second quarter. State Street Corp now owns 2,325,125 shares of the aerospace company’s stock worth $122,742,000 after purchasing an additional 169,088 shares during the period. Institutional investors own 96.67% of the company’s stock.
A number of brokerages have recently weighed in on HXL. Canaccord Genuity reiterated a “hold” rating and set a $62.00 target price on shares of Hexcel in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Hexcel from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Loop Capital raised their price objective on Hexcel from $61.00 to $64.00 and gave the stock a “hold” rating in a research note on Tuesday, October 24th. KeyCorp restated a “buy” rating and set a $65.00 price objective on shares of Hexcel in a research note on Thursday, October 12th. Finally, Bank of America raised their price objective on Hexcel from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.67.
In other Hexcel news, insider Timothy Swords sold 13,493 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $60.27, for a total value of $813,223.11. Following the sale, the insider now owns 20,202 shares of the company’s stock, valued at approximately $1,217,574.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kimberly A. Hendricks sold 2,608 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $63.35, for a total value of $165,216.80. Following the completion of the sale, the senior vice president now directly owns 22,221 shares in the company, valued at approximately $1,407,700.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,797 shares of company stock worth $1,636,263. Company insiders own 2.10% of the company’s stock.
Hexcel Corporation (HXL) traded down $0.22 during trading on Monday, reaching $60.50. The company’s stock had a trading volume of 509,900 shares, compared to its average volume of 582,493. Hexcel Corporation has a 12-month low of $49.20 and a 12-month high of $63.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.53 and a current ratio of 2.74. The company has a market cap of $5,434.44, a price-to-earnings ratio of 23.09, a PEG ratio of 2.86 and a beta of 1.10.
Hexcel (NYSE:HXL) last posted its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $491.50 million for the quarter, compared to analyst estimates of $507.77 million. Hexcel had a return on equity of 18.40% and a net margin of 13.13%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. equities analysts expect that Hexcel Corporation will post 2.67 earnings per share for the current year.
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Hexcel Company Profile
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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