Treasurer of the State of North Carolina trimmed its position in shares of Hexcel Co. (NYSE:HXL) by 13.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,846 shares of the aerospace company’s stock after selling 5,530 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Hexcel were worth $2,899,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Hexcel in the 1st quarter valued at $106,000. Great West Life Assurance Co. Can grew its holdings in Hexcel by 2.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 11,241 shares of the aerospace company’s stock valued at $775,000 after buying an additional 270 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Hexcel by 44.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 37,571 shares of the aerospace company’s stock valued at $2,599,000 after buying an additional 11,623 shares in the last quarter. GAM Holding AG purchased a new stake in Hexcel in the 1st quarter valued at $375,000. Finally, AlphaCrest Capital Management LLC purchased a new stake in Hexcel in the 1st quarter valued at $571,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.
In related news, CEO Nick L. Stanage sold 15,662 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $85.75, for a total transaction of $1,343,016.50. Following the transaction, the chief executive officer now owns 256,853 shares of the company’s stock, valued at approximately $22,025,144.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brett Raymond Schneider sold 4,417 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $81.61, for a total value of $360,471.37. Following the transaction, the insider now directly owns 10,201 shares in the company, valued at approximately $832,503.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,623 shares of company stock worth $4,840,665. 1.40% of the stock is owned by corporate insiders.
Shares of Hexcel stock opened at $76.56 on Wednesday. Hexcel Co. has a 52 week low of $53.50 and a 52 week high of $87.00. The business’s fifty day simple moving average is $81.73 and its 200-day simple moving average is $76.79. The firm has a market cap of $6.51 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. 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 announced its quarterly earnings results on Monday, July 22nd. The aerospace company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. The business had revenue of $609.00 million for the quarter, compared to analyst estimates of $606.03 million. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect that Hexcel Co. will post 3.52 earnings per share for the current year.
Several brokerages have issued reports on HXL. ValuEngine cut Hexcel from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Goldman Sachs Group lowered Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a research note on Friday, August 16th. Credit Suisse Group upped their price target on Hexcel from $72.00 to $79.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Cowen set a $87.00 price target on Hexcel and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Canaccord Genuity upped their price target on Hexcel from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $81.21.
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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