Dynamic Technology Lab Private Ltd lessened its stake in shares of Hexcel Co. (NYSE:HXL) by 22.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,989 shares of the aerospace company’s stock after selling 2,904 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Hexcel were worth $645,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HXL. Artisan Partners Limited Partnership acquired a new stake in Hexcel during the 1st quarter worth about $76,417,000. Frontier Capital Management Co. LLC acquired a new stake in Hexcel during the 1st quarter worth about $58,086,000. BlackRock Inc. raised its holdings in Hexcel by 6.7% during the 1st quarter. BlackRock Inc. now owns 5,609,569 shares of the aerospace company’s stock worth $362,323,000 after buying an additional 351,285 shares during the period. Allianz Asset Management GmbH raised its holdings in Hexcel by 157.0% during the 4th quarter. Allianz Asset Management GmbH now owns 534,150 shares of the aerospace company’s stock worth $33,037,000 after buying an additional 326,347 shares during the period. Finally, GW&K Investment Management LLC acquired a new position in shares of Hexcel in the 1st quarter valued at about $20,508,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity reiterated a “hold” rating and issued a $70.00 target price on shares of Hexcel in a report on Tuesday, April 24th. Zacks Investment Research upgraded Hexcel from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Jefferies Financial Group set a $69.00 target price on Hexcel and gave the company a “hold” rating in a report on Tuesday, April 24th. Loop Capital upgraded Hexcel from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Tuesday, April 24th. Finally, Cowen reiterated a “buy” rating and issued a $75.00 target price on shares of Hexcel in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $71.58.
Shares of Hexcel opened at $66.38 on Friday, according to Marketbeat.com. The company has a market capitalization of $5.87 billion, a P/E ratio of 24.77, a PEG ratio of 2.56 and a beta of 1.14. Hexcel Co. has a 52 week low of $50.50 and a 52 week high of $73.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.64 and a quick ratio of 1.53.
Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, April 23rd. The aerospace company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The business had revenue of $540.10 million during the quarter, compared to analysts’ expectations of $510.73 million. Hexcel had a return on equity of 17.36% and a net margin of 13.81%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. equities analysts forecast that Hexcel Co. will post 3.03 earnings per share for the current year.
Hexcel announced that its Board of Directors has initiated a share repurchase program on Monday, May 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, insider Robert George Hennemuth sold 17,885 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $70.46, for a total value of $1,260,177.10. Following the completion of the sale, the insider now owns 47,279 shares of the company’s stock, valued at approximately $3,331,278.34. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thierry Merlot sold 9,215 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $65.99, for a total value of $608,097.85. Following the completion of the sale, the insider now directly owns 32,331 shares of the company’s stock, valued at approximately $2,133,522.69. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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. 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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