Greystone Managed Investments Inc. cut its stake in shares of Hexcel Corporation (NYSE:HXL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,600 shares of the aerospace company’s stock after selling 3,722 shares during the period. Greystone Managed Investments Inc. owned approximately 0.15% of Hexcel Corporation worth $7,053,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of HXL. Vanguard Group Inc. increased its stake in shares of Hexcel Corporation by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,005,362 shares of the aerospace company’s stock valued at $382,143,000 after buying an additional 257,243 shares during the last quarter. BlackRock Inc. increased its stake in shares of Hexcel Corporation by 12,782.1% in the first quarter. BlackRock Inc. now owns 4,690,618 shares of the aerospace company’s stock valued at $255,874,000 after buying an additional 4,654,206 shares during the last quarter. Broad Run Investment Management LLC increased its stake in shares of Hexcel Corporation by 3.4% in the first quarter. Broad Run Investment Management LLC now owns 2,951,469 shares of the aerospace company’s stock valued at $161,003,000 after buying an additional 96,115 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Hexcel Corporation by 9.5% in the first quarter. William Blair Investment Management LLC now owns 1,802,923 shares of the aerospace company’s stock valued at $98,349,000 after buying an additional 155,762 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Hexcel Corporation by 39.7% in the first quarter. Schroder Investment Management Group now owns 1,791,793 shares of the aerospace company’s stock valued at $97,546,000 after buying an additional 509,076 shares during the period.
Shares of Hexcel Corporation (NYSE HXL) opened at 52.34 on Friday. Hexcel Corporation has a 52 week low of $41.03 and a 52 week high of $55.91. The firm has a 50-day moving average of $53.15 and a 200-day moving average of $52.55. The firm has a market cap of $4.70 billion, a PE ratio of 19.17 and a beta of 1.04.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings data on Monday, July 24th. The aerospace company reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $491.30 million for the quarter, compared to analysts’ expectations of $518.29 million. Hexcel Corporation had a return on equity of 18.69% and a net margin of 12.99%. Hexcel Corporation’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, analysts expect that Hexcel Corporation will post $2.68 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, August 3rd were issued a $0.125 dividend. This is an increase from Hexcel Corporation’s previous quarterly dividend of $0.11. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Tuesday, August 1st. Hexcel Corporation’s payout ratio is 18.32%.
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Several research firms have recently weighed in on HXL. Jefferies Group LLC reiterated a “hold” rating and issued a $50.00 price target (down previously from $52.00) on shares of Hexcel Corporation in a report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and issued a $57.00 price target on shares of Hexcel Corporation in a report on Monday, July 24th. BidaskClub upgraded shares of Hexcel Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Aegis reiterated a “buy” rating on shares of Hexcel Corporation in a report on Wednesday, May 31st. Finally, Zacks Investment Research cut shares of Hexcel Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $56.89.
About Hexcel Corporation
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.
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