Swiss National Bank lessened its holdings in Hexcel Co. (NYSE:HXL – Get Rating) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,900 shares of the aerospace company’s stock after selling 500 shares during the quarter. Swiss National Bank’s holdings in Hexcel were worth $10,352,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of HXL. Pinebridge Investments L.P. increased its holdings in Hexcel by 487.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 587 shares of the aerospace company’s stock valued at $31,000 after buying an additional 487 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Hexcel in the 1st quarter valued at $59,000. First Horizon Advisors Inc. boosted its stake in shares of Hexcel by 6,951.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,904 shares of the aerospace company’s stock valued at $99,000 after purchasing an additional 1,877 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Hexcel in the 1st quarter valued at $101,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Hexcel in the 2nd quarter valued at $116,000. Institutional investors own 97.56% of the company’s stock.
In other news, insider Thierry Merlot sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $60.83, for a total value of $152,075.00. Following the completion of the sale, the insider now directly owns 34,011 shares of the company’s stock, valued at approximately $2,068,889.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.39% of the stock is currently owned by company insiders.
Hexcel Stock Performance
Hexcel (NYSE:HXL – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The aerospace company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $364.70 million during the quarter, compared to analysts’ expectations of $398.38 million. Hexcel had a return on equity of 6.01% and a net margin of 7.17%. Hexcel’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. Equities analysts anticipate that Hexcel Co. will post 1.2 earnings per share for the current year.
Hexcel Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.68%. Hexcel’s dividend payout ratio (DPR) is presently 31.50%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on HXL. Royal Bank of Canada boosted their target price on shares of Hexcel from $57.00 to $58.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 26th. Wolfe Research began coverage on shares of Hexcel in a research note on Monday, October 10th. They issued a “peer perform” rating on the stock. StockNews.com began coverage on shares of Hexcel in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. BMO Capital Markets reduced their price target on shares of Hexcel from $66.00 to $61.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 1st. Finally, Vertical Research upped their price target on shares of Hexcel to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.44.
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 through 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 automotive, marine, and trains.
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