Mitchell Capital Management Co. lessened its holdings in Hexcel Co. (NYSE:HXL) by 2.6% during the fourth quarter, Holdings Channel reports. The fund owned 118,077 shares of the aerospace company’s stock after selling 3,214 shares during the period. Hexcel makes up about 2.6% of Mitchell Capital Management Co.’s holdings, making the stock its 11th biggest holding. Mitchell Capital Management Co.’s holdings in Hexcel were worth $7,303,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Blue Rock Advisors LLC boosted its stake in shares of Hexcel by 65.2% during the third quarter. Blue Rock Advisors LLC now owns 24,828 shares of the aerospace company’s stock valued at $1,425,000 after purchasing an additional 9,797 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Hexcel by 48.8% during the third quarter. Atlantic Trust Group LLC now owns 198,102 shares of the aerospace company’s stock valued at $11,374,000 after purchasing an additional 65,000 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Hexcel by 1.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 369,929 shares of the aerospace company’s stock valued at $21,241,000 after purchasing an additional 5,770 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Hexcel by 79.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 92,245 shares of the aerospace company’s stock valued at $5,297,000 after purchasing an additional 40,923 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Hexcel by 141.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 80,365 shares of the aerospace company’s stock valued at $4,613,000 after purchasing an additional 47,140 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.
In other Hexcel news, CEO Nick L. Stanage sold 27,174 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $64.01, for a total value of $1,739,407.74. Following the transaction, the chief executive officer now directly owns 181,637 shares of the company’s stock, valued at $11,626,584.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy Swords sold 13,493 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $60.27, for a total value of $813,223.11. Following the completion of the transaction, the insider now directly owns 20,202 shares in the company, valued at $1,217,574.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,667 shares of company stock worth $5,678,201. 2.10% of the stock is owned by insiders.
Hexcel (NYSE:HXL) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $0.70 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.70. The company had revenue of $511.70 million for the quarter, compared to analyst estimates of $506.70 million. Hexcel had a return on equity of 17.86% and a net margin of 14.39%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. analysts predict that Hexcel Co. will post 3.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, February 5th. Hexcel’s dividend payout ratio is currently 16.18%.
A number of analysts have recently commented on the company. Zacks Investment Research raised Hexcel from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Wednesday. Canaccord Genuity lifted their price target on Hexcel from $64.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, January 26th. Stephens lifted their price target on Hexcel from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Loop Capital set a $64.00 price objective on Hexcel and gave the stock a “hold” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $67.00 price objective (up from $60.00) on shares of Hexcel in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Hexcel currently has an average rating of “Hold” and an average target price of $65.90.
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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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