Fmr LLC reduced its stake in shares of Hexcel Co. (NYSE:HXL) by 18.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,443,347 shares of the aerospace company’s stock after selling 330,953 shares during the period. Fmr LLC owned approximately 1.65% of Hexcel worth $95,810,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its position in Hexcel by 84.1% during the second quarter. SRS Capital Advisors Inc. now owns 2,053 shares of the aerospace company’s stock valued at $136,000 after purchasing an additional 938 shares during the period. Contravisory Investment Management Inc. acquired a new position in Hexcel during the second quarter valued at $148,000. BNP Paribas Arbitrage SA lifted its position in Hexcel by 441.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,237 shares of the aerospace company’s stock valued at $148,000 after purchasing an additional 1,824 shares during the period. GSA Capital Partners LLP acquired a new position in Hexcel during the second quarter valued at $256,000. Finally, People s United Financial Inc. acquired a new position in Hexcel during the second quarter valued at $292,000. Institutional investors and hedge funds own 99.69% of the company’s stock.
HXL opened at $61.89 on Friday. Hexcel Co. has a fifty-two week low of $56.46 and a fifty-two week high of $73.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.58 and a quick ratio of 1.44. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.40 and a beta of 1.18.
Hexcel (NYSE:HXL) last released its quarterly earnings data on Monday, October 22nd. The aerospace company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Hexcel had a net margin of 13.95% and a return on equity of 18.08%. The company had revenue of $540.50 million during the quarter, compared to analysts’ expectations of $545.88 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Hexcel Co. will post 3.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, November 2nd were issued a $0.15 dividend. The ex-dividend date was Thursday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.97%. Hexcel’s payout ratio is 22.39%.
HXL has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. UBS Group initiated coverage on shares of Hexcel in a research report on Wednesday, August 15th. They set a “sell” rating and a $65.00 target price for the company. ValuEngine upgraded shares of Hexcel from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Credit Suisse Group decreased their target price on shares of Hexcel from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Finally, Cowen restated a “buy” rating and set a $75.00 target price on shares of Hexcel in a research report on Monday, October 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.75.
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Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. The company 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, honeycombs, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blade, recreational product, and other industrial applications, as well as in cars, boats, and trains.
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