FDx Advisors Inc. Grows Position in Hexcel Corporation (HXL)
FDx Advisors Inc. increased its position in shares of Hexcel Corporation (NYSE:HXL) by 14.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,868 shares of the aerospace company’s stock after buying an additional 2,570 shares during the quarter. FDx Advisors Inc.’s holdings in Hexcel Corporation were worth $1,141,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Hexcel Corporation by 6.9% in 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. Tocqueville Asset Management L.P. purchased a new position in shares of Hexcel Corporation in the 3rd quarter valued at approximately $207,000. Nomura Holdings Inc. purchased a new position in shares of Hexcel Corporation in the 2nd quarter valued at approximately $202,000. World Asset Management Inc purchased a new position in shares of Hexcel Corporation in the 3rd quarter valued at approximately $222,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Hexcel Corporation in the 2nd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.
In related news, insider Thierry Merlot sold 3,748 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $61.19, for a total value of $229,340.12. Following the transaction, the insider now owns 13,691 shares in the company, valued at $837,752.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lynn Brubaker sold 6,948 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $61.67, for a total value of $428,483.16. Following the completion of the transaction, the director now owns 7,107 shares in the company, valued at approximately $438,288.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,304 shares of company stock worth $823,040. 2.10% of the stock is currently owned by insiders.
HXL has been the subject of several recent analyst reports. KeyCorp reissued a “buy” rating and issued a $60.00 price target on shares of Hexcel Corporation in a report on Friday, September 1st. Zacks Investment Research raised Hexcel Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Bank of America Corporation lifted their price objective on Hexcel Corporation from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 price objective (down from $52.00) on shares of Hexcel Corporation in a report on Tuesday, July 25th. Finally, Vertical Research cut Hexcel Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $58.00 to $54.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Hexcel Corporation has an average rating of “Hold” and a consensus target price of $60.00.
Shares of Hexcel Corporation (NYSE:HXL) opened at $59.53 on Thursday. Hexcel Corporation has a 1 year low of $47.98 and a 1 year high of $63.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.53 and a current ratio of 2.74. The stock has a market capitalization of $5,394.02, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Hexcel Corporation had a return on equity of 18.40% and a net margin of 13.13%. The firm had revenue of $491.50 million during the quarter, compared to the consensus estimate of $507.77 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. equities research analysts forecast that Hexcel Corporation will post 2.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Tuesday, October 31st. Hexcel Corporation’s dividend payout ratio is presently 18.05%.
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About Hexcel Corporation
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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