Tocqueville Asset Management L.P. acquired a new position in Hexcel Co. (NYSE:HXL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,500 shares of the aerospace company’s stock, valued at approximately $202,000.
A number of other hedge funds also recently bought and sold shares of HXL. Zions Bancorporation N.A. bought a new stake in Hexcel during the first quarter worth approximately $45,000. Steward Partners Investment Advisory LLC bought a new stake in Hexcel in the 2nd quarter valued at $54,000. Machina Capital S.A.S. boosted its stake in Hexcel by 22.4% in the 2nd quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock valued at $60,000 after purchasing an additional 136 shares during the period. Pennsylvania Trust Co bought a new stake in Hexcel in the 1st quarter valued at $255,000. Finally, Manchester Capital Management LLC bought a new stake in Hexcel in the 1st quarter valued at $68,000. 92.34% of the stock is owned by institutional investors and hedge funds.
HXL has been the subject of a number of recent analyst reports. Bank of America reiterated a “buy” rating and set a $90.00 target price (down from $95.00) on shares of Hexcel in a research report on Wednesday, July 24th. BMO Capital Markets upped their target price on Hexcel from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Zacks Investment Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Tuesday, July 2nd. Barclays reiterated a “hold” rating and set a $77.00 target price on shares of Hexcel in a research report on Sunday, May 26th. Finally, KeyCorp upped their target price on Hexcel from $86.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Hexcel has an average rating of “Hold” and a consensus price target of $81.05.
In related news, insider Gail E. Lehman sold 733 shares of Hexcel stock in a transaction on Friday, May 24th. The stock was sold at an average price of $74.56, for a total transaction of $54,652.48. Following the completion of the sale, the insider now owns 733 shares of the company’s stock, valued at $54,652.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thierry Merlot sold 6,100 shares of Hexcel stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $73.71, for a total value of $449,631.00. Following the sale, the insider now directly owns 33,864 shares of the company’s stock, valued at approximately $2,496,115.44. The disclosure for this sale can be found here. Insiders have sold 10,333 shares of company stock valued at $770,283 in the last three months. 1.40% of the stock is owned by corporate insiders.
NYSE:HXL opened at $79.80 on Friday. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 2.22 and a beta of 1.09. Hexcel Co. has a 52-week low of $53.50 and a 52-week high of $85.63. The stock has a fifty day moving average of $81.05 and a 200 day moving average of $73.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.28 and a current ratio of 2.22.
Hexcel (NYSE:HXL) last posted its quarterly earnings data on Monday, July 22nd. The aerospace company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The company had revenue of $609.00 million during the quarter, compared to analyst estimates of $606.03 million. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. Equities analysts forecast that Hexcel Co. will post 3.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a dividend of $0.17 per share. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.68 annualized dividend and a yield of 0.85%. Hexcel’s dividend payout ratio (DPR) is currently 22.30%.
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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