Hexcel Co. (NYSE:HXL) Stake Decreased by Trinity Street Asset Management LLP
Trinity Street Asset Management LLP reduced its stake in Hexcel Co. (NYSE:HXL) by 9.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 449,394 shares of the aerospace company’s stock after selling 44,234 shares during the quarter. Hexcel accounts for approximately 4.5% of Trinity Street Asset Management LLP’s portfolio, making the stock its 10th largest holding. Trinity Street Asset Management LLP owned 0.53% of Hexcel worth $32,945,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of HXL. Nuveen Asset Management LLC purchased a new position in shares of Hexcel in the 2nd quarter worth about $83,589,000. Atlanta Capital Management Co. L L C purchased a new stake in Hexcel during the second quarter valued at about $63,334,000. Invesco Ltd. lifted its holdings in Hexcel by 215.2% during the second quarter. Invesco Ltd. now owns 1,132,300 shares of the aerospace company’s stock valued at $91,580,000 after purchasing an additional 773,112 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Hexcel by 12.5% during the second quarter. Victory Capital Management Inc. now owns 1,082,632 shares of the aerospace company’s stock valued at $87,564,000 after purchasing an additional 119,928 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Hexcel by 2.1% during the second quarter. BlackRock Inc. now owns 5,337,971 shares of the aerospace company’s stock valued at $431,737,000 after purchasing an additional 107,771 shares during the last quarter. 96.34% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on the stock. ValuEngine raised shares of Hexcel from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Wells Fargo & Co assumed coverage on shares of Hexcel in a report on Tuesday, October 15th. They set a “market perform” rating and a $85.00 price objective on the stock. Bank of America downgraded shares of Hexcel from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $95.00 to $80.00 in a report on Tuesday, October 1st. Cowen set a $87.00 price objective on shares of Hexcel and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Canaccord Genuity downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $81.66.
Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.02. Hexcel had a return on equity of 21.74% and a net margin of 12.73%. The firm had revenue of $572.50 million for the quarter, compared to analysts’ expectations of $598.88 million. During the same period in the prior year, the business posted $0.80 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. Analysts expect that Hexcel Co. will post 3.53 earnings per share for the current fiscal year.
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 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, 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 cars, boats, and trains.
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