FDx Advisors Inc. reduced its stake in Hexcel Co. (NYSE:HXL) by 26.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,605 shares of the aerospace company’s stock after selling 5,263 shares during the quarter. FDx Advisors Inc.’s holdings in Hexcel were worth $903,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Hexcel by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 200 shares during the last quarter. Aperio Group LLC increased its position in shares of Hexcel by 2.0% during the 4th quarter. Aperio Group LLC now owns 41,126 shares of the aerospace company’s stock valued at $2,544,000 after purchasing an additional 818 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Hexcel by 6.2% during the 3rd quarter. Pacer Advisors Inc. now owns 14,481 shares of the aerospace company’s stock valued at $831,000 after purchasing an additional 844 shares during the last quarter. Greenwood Capital Associates LLC increased its position in shares of Hexcel by 12.1% during the 4th quarter. Greenwood Capital Associates LLC now owns 8,599 shares of the aerospace company’s stock valued at $532,000 after purchasing an additional 929 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Hexcel by 1.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 94,892 shares of the aerospace company’s stock valued at $5,869,000 after purchasing an additional 946 shares during the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.
In other Hexcel news, CEO Nick L. Stanage sold 18,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $62.00, for a total value of $1,116,000.00. Following the completion of the transaction, the chief executive officer now owns 172,463 shares in the company, valued at approximately $10,692,706. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nick L. Stanage sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $62.01, for a total value of $434,070.00. Following the completion of the transaction, the chief executive officer now owns 161,463 shares of the company’s stock, valued at approximately $10,012,320.63. The disclosure for this sale can be found here. In the last three months, insiders sold 90,667 shares of company stock valued at $5,678,201. 2.10% of the stock is currently owned by insiders.
Hexcel (NYSE:HXL) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. Hexcel had a return on equity of 17.86% and a net margin of 14.39%. The company had revenue of $511.70 million during the quarter, compared to analyst estimates of $506.70 million. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. analysts forecast that Hexcel Co. will post 3.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.74%. The ex-dividend date was Monday, February 5th. Hexcel’s dividend payout ratio (DPR) is currently 16.18%.
Several brokerages have recently issued reports on HXL. Zacks Investment Research raised Hexcel from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Wednesday. Loop Capital set a $64.00 target price on Hexcel and gave the company a “hold” rating in a research report on Thursday, December 14th. Stephens raised their target price on Hexcel from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Canaccord Genuity raised their target price on Hexcel from $64.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, January 26th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Hexcel in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.90.
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Hexcel Company Profile
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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