Harvey Capital Management Inc. Cuts Stake in Hexcel Corporation (HXL)

Harvey Capital Management Inc. reduced its stake in Hexcel Corporation (NYSE:HXL) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,575 shares of the aerospace company’s stock after selling 1,900 shares during the period. Hexcel accounts for about 1.4% of Harvey Capital Management Inc.’s holdings, making the stock its 27th biggest position. Harvey Capital Management Inc. owned 0.07% of Hexcel worth $3,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in HXL. BlackRock Inc. increased its stake in Hexcel by 5.0% in the second quarter. BlackRock Inc. now owns 4,924,139 shares of the aerospace company’s stock valued at $259,946,000 after purchasing an additional 233,521 shares during the last quarter. Schwartz Investment Counsel Inc. increased its stake in Hexcel by 53.0% in the third quarter. Schwartz Investment Counsel Inc. now owns 622,100 shares of the aerospace company’s stock valued at $35,721,000 after purchasing an additional 215,600 shares during the last quarter. Schroder Investment Management Group increased its stake in Hexcel by 11.6% in the second quarter. Schroder Investment Management Group now owns 2,000,232 shares of the aerospace company’s stock valued at $104,652,000 after purchasing an additional 208,439 shares during the last quarter. Epoch Investment Partners Inc. grew its position 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 acquiring an additional 199,893 shares during the last quarter. Finally, State Street Corp grew its position 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 acquiring an additional 169,088 shares during the last quarter. Institutional investors own 96.67% of the company’s stock.

In other Hexcel news, SVP Kimberly A. Hendricks sold 2,608 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was 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 owns 22,221 shares of the company’s stock, valued at $1,407,700.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thierry Merlot sold 3,748 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $61.19, for a total value of $229,340.12. Following the completion of the sale, the insider now directly owns 13,691 shares of the company’s stock, valued at approximately $837,752.29. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,797 shares of company stock worth $1,636,263. 2.10% of the stock is currently owned by insiders.

Hexcel Corporation (NYSE:HXL) opened at $60.72 on Friday. Hexcel Corporation has a 1 year low of $49.20 and a 1 year high of $63.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.74 and a quick ratio of 1.53. The firm has a market cap of $5,430.00, a price-to-earnings ratio of 22.82, a P/E/G ratio of 2.82 and a beta of 1.09.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Hexcel had a net margin of 13.13% and a return on equity of 18.40%. The firm had revenue of $491.50 million for the quarter, compared to analyst estimates of $507.77 million. During the same period last year, the firm posted $0.65 EPS. Hexcel’s quarterly revenue was down 1.8% on a year-over-year basis. equities analysts anticipate that Hexcel Corporation will post 2.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Wednesday, November 1st were given 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 dividend payout ratio (DPR) is 18.05%.

A number of equities analysts have recently issued reports on HXL shares. Stephens started coverage on shares of Hexcel in a research report on Wednesday. They set an “overweight” rating and a $74.00 target price on the stock. Canaccord Genuity restated a “hold” rating and set a $54.00 target price on shares of Hexcel in a research report on Friday, September 29th. Loop Capital started coverage on shares of Hexcel in a research report on Thursday, September 28th. They set a “hold” rating and a $61.00 target price on the stock. KeyCorp restated a “buy” rating and set a $60.00 target price on shares of Hexcel in a research report on Friday, September 1st. Finally, Jefferies Group restated a “hold” rating and set a $50.00 target price on shares of Hexcel in a research report on Friday, September 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.67.

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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.

Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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