Carillon Tower Advisers Inc. grew its holdings in shares of Hexcel Co. (NYSE:HXL) by 79.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,893,456 shares of the aerospace company’s stock after purchasing an additional 836,560 shares during the quarter. Hexcel makes up about 0.9% of Carillon Tower Advisers Inc.’s investment portfolio, making the stock its 7th biggest position. Carillon Tower Advisers Inc.’s holdings in Hexcel were worth $119,687,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Amalgamated Bank increased its holdings in shares of Hexcel by 4.3% during the 1st quarter. Amalgamated Bank now owns 18,396 shares of the aerospace company’s stock worth $1,188,000 after buying an additional 752 shares during the last quarter. Glen Harbor Capital Management LLC increased its holdings in Hexcel by 35.7% in the 1st quarter. Glen Harbor Capital Management LLC now owns 2,926 shares of the aerospace company’s stock valued at $189,000 after purchasing an additional 770 shares in the last quarter. Denver Investment Advisors LLC increased its holdings in Hexcel by 6.0% in the 1st quarter. Denver Investment Advisors LLC now owns 17,319 shares of the aerospace company’s stock valued at $1,119,000 after purchasing an additional 974 shares in the last quarter. Synovus Financial Corp increased its holdings in Hexcel by 6.2% in the 1st quarter. Synovus Financial Corp now owns 17,025 shares of the aerospace company’s stock valued at $1,105,000 after purchasing an additional 989 shares in the last quarter. Finally, ELCO Management Co. LLC increased its holdings in Hexcel by 1.1% in the 2nd quarter. ELCO Management Co. LLC now owns 100,541 shares of the aerospace company’s stock valued at $6,674,000 after purchasing an additional 1,080 shares in the last quarter. 98.10% of the stock is currently owned by institutional investors.
Shares of HXL stock opened at $69.00 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.37 and a debt-to-equity ratio of 0.66. Hexcel Co. has a one year low of $52.19 and a one year high of $73.42. The stock has a market cap of $5.94 billion, a PE ratio of 23.90, a P/E/G ratio of 2.65 and a beta of 1.16.
Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, July 23rd. The aerospace company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Hexcel had a net margin of 13.78% and a return on equity of 17.56%. The business had revenue of $547.50 million for the quarter, compared to analysts’ expectations of $541.92 million. During the same quarter last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. analysts anticipate that Hexcel Co. will post 3.03 EPS for the current year.
Hexcel declared that its Board of Directors has initiated a share buyback program on Monday, May 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 8.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, August 10th. Stockholders of record on Friday, August 3rd were given a dividend of $0.15 per share. This is a boost from Hexcel’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 0.87%. Hexcel’s dividend payout ratio (DPR) is presently 22.39%.
In other news, insider Robert George Hennemuth sold 17,885 shares of the stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $70.46, for a total transaction of $1,260,177.10. Following the transaction, the insider now owns 47,279 shares of the company’s stock, valued at $3,331,278.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Graves purchased 1,550 shares of Hexcel stock in a transaction dated Friday, July 27th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $106,950.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $207,000. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
HXL has been the subject of several recent research reports. Cowen reiterated a “buy” rating and issued a $75.00 price target on shares of Hexcel in a report on Tuesday, April 24th. Loop Capital raised shares of Hexcel from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, April 24th. Canaccord Genuity reissued a “hold” rating and issued a $70.00 price objective on shares of Hexcel in a research report on Tuesday, April 24th. Jefferies Financial Group set a $69.00 price objective on shares of Hexcel and gave the company a “hold” rating in a research report on Tuesday, April 24th. Finally, KeyCorp upped their price objective on shares of Hexcel from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $73.17.
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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