Raymond James Financial Services Advisors Inc. lowered its holdings in Hexcel Co. (NYSE:HXL) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,955 shares of the aerospace company’s stock after selling 2,116 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hexcel were worth $1,038,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Atlanta Capital Management Co. L L C grew its stake in shares of Hexcel by 105.3% in the 1st quarter. Atlanta Capital Management Co. L L C now owns 3,876,201 shares of the aerospace company’s stock worth $144,156,000 after purchasing an additional 1,987,867 shares during the last quarter. Eaton Vance Management increased its position in shares of Hexcel by 28.8% in the first quarter. Eaton Vance Management now owns 2,408,887 shares of the aerospace company’s stock worth $89,361,000 after acquiring an additional 538,407 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Hexcel by 99.8% in the first quarter. Wells Fargo & Company MN now owns 1,714,661 shares of the aerospace company’s stock worth $63,768,000 after acquiring an additional 856,279 shares in the last quarter. Timucuan Asset Management Inc. FL increased its position in shares of Hexcel by 44.4% in the first quarter. Timucuan Asset Management Inc. FL now owns 1,525,487 shares of the aerospace company’s stock worth $56,733,000 after acquiring an additional 469,272 shares in the last quarter. Finally, Capital Research Global Investors purchased a new position in shares of Hexcel in the first quarter worth approximately $54,885,000. 95.29% of the stock is currently owned by institutional investors.
NYSE HXL opened at $37.30 on Friday. The company has a quick ratio of 2.21, a current ratio of 3.86 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $3.25 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 5.82 and a beta of 1.26. The company has a 50 day moving average price of $43.92 and a two-hundred day moving average price of $48.25. Hexcel Co. has a 12-month low of $24.54 and a 12-month high of $87.00.
Hexcel (NYSE:HXL) last issued its quarterly earnings data on Monday, July 27th. The aerospace company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.12). Hexcel had a return on equity of 14.73% and a net margin of 9.48%. The firm had revenue of $378.70 million during the quarter, compared to analyst estimates of $372.66 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Hexcel’s quarterly revenue was down 37.8% compared to the same quarter last year. As a group, equities analysts anticipate that Hexcel Co. will post 1.19 EPS for the current year.
In other news, insider Thierry Merlot sold 10,810 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $36.44, for a total value of $393,916.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.
HXL has been the topic of several analyst reports. BMO Capital Markets raised shares of Hexcel from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $45.00 to $55.00 in a research report on Friday, June 5th. Goldman Sachs Group reissued a “neutral” rating and issued a $30.00 target price on shares of Hexcel in a research report on Wednesday, April 15th. Jefferies Financial Group lowered their price objective on shares of Hexcel from $80.00 to $35.00 in a research report on Tuesday, April 7th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Hexcel in a research report on Tuesday, July 28th. Finally, Zacks Investment Research raised shares of Hexcel from a “sell” rating to a “hold” rating and set a $39.00 price objective on the stock in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.67.
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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