Waddell & Reed Financial Inc. trimmed its position in Hexcel Co. (NYSE:HXL) by 1.8% in the second quarter, HoldingsChannel reports. The firm owned 82,185 shares of the aerospace company’s stock after selling 1,500 shares during the period. Waddell & Reed Financial Inc.’s holdings in Hexcel were worth $5,455,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Carillon Tower Advisers Inc. raised its stake in Hexcel by 79.2% during the second quarter. Carillon Tower Advisers Inc. now owns 1,893,456 shares of the aerospace company’s stock worth $119,687,000 after acquiring an additional 836,560 shares in the last quarter. Trinity Street Asset Management LLP acquired a new position in Hexcel during the second quarter worth $31,792,000. BlackRock Inc. raised its stake in Hexcel by 6.7% during the first quarter. BlackRock Inc. now owns 5,609,569 shares of the aerospace company’s stock worth $362,323,000 after acquiring an additional 351,285 shares in the last quarter. KAMES CAPITAL plc acquired a new position in Hexcel during the second quarter worth $20,681,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Hexcel during the second quarter worth $17,274,000. Institutional investors and hedge funds own 97.94% of the company’s stock.
Several research firms have issued reports on HXL. ValuEngine upgraded Hexcel from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. UBS Group began coverage on Hexcel in a research note on Wednesday, August 15th. They set a “sell” rating and a $65.00 price objective for the company. Stephens set a $80.00 price objective on Hexcel and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Canaccord Genuity reiterated a “buy” rating and set a $80.00 price objective on shares of Hexcel in a research note on Monday, July 23rd. Finally, Cowen reiterated a “buy” rating and set a $75.00 price objective on shares of Hexcel in a research note on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $73.17.
In other Hexcel news, Director Jeffrey A. Graves bought 1,550 shares of the stock in a transaction dated Friday, July 27th. The stock was bought at an average cost of $69.00 per share, for a total transaction of $106,950.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $207,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.
Shares of NYSE:HXL opened at $68.26 on Friday. Hexcel Co. has a twelve month low of $57.06 and a twelve month high of $73.42. The firm has a market capitalization of $5.97 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.66 and a beta of 1.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.41 and a quick ratio of 1.37.
Hexcel (NYSE:HXL) last announced its earnings results on Monday, July 23rd. The aerospace company reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. Hexcel had a return on equity of 17.56% and a net margin of 13.78%. The company had revenue of $547.50 million during the quarter, compared to analyst estimates of $541.92 million. During the same period last year, the company posted $0.67 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. equities analysts anticipate that Hexcel Co. will post 3.03 earnings per share for the current year.
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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