Hexcel Corporation (HXL) Position Trimmed by Ingalls & Snyder LLC
Ingalls & Snyder LLC reduced its holdings in shares of Hexcel Corporation (NYSE:HXL) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,314,774 shares of the aerospace company’s stock after selling 54,054 shares during the period. Hexcel Corporation comprises 3.9% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 4th largest holding. Ingalls & Snyder LLC owned approximately 1.46% of Hexcel Corporation worth $75,494,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Hexcel Corporation by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock worth $163,000 after buying an additional 200 shares during the period. Nomura Holdings Inc. purchased a new stake in Hexcel Corporation during the 2nd quarter worth approximately $202,000. Pacad Investment Ltd. purchased a new stake in Hexcel Corporation during the 2nd quarter worth approximately $206,000. AHL Partners LLP purchased a new stake in Hexcel Corporation during the 2nd quarter worth approximately $207,000. Finally, HighTower Advisors LLC purchased a new stake in Hexcel Corporation during the 1st quarter worth approximately $219,000. 96.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hexcel Corporation (HXL) traded up 3.86% on Friday, hitting $63.76. 1,270,794 shares of the stock traded hands. The firm’s 50-day moving average is $57.28 and its 200 day moving average is $53.52. The firm has a market cap of $5.72 billion, a P/E ratio of 23.36 and a beta of 1.04. Hexcel Corporation has a 12-month low of $44.04 and a 12-month high of $63.82.
Hexcel Corporation (NYSE:HXL) last issued its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $491.50 million during the quarter, compared to analyst estimates of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities research analysts forecast that Hexcel Corporation will post $2.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, November 1st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.78%. Hexcel Corporation’s dividend payout ratio (DPR) is presently 18.05%.
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Several brokerages recently weighed in on HXL. Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 target price (down from $52.00) on shares of Hexcel Corporation in a research note on Tuesday, July 25th. Cowen and Company reaffirmed a “buy” rating and set a $57.00 target price on shares of Hexcel Corporation in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Hexcel Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub downgraded shares of Hexcel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “buy” rating and set a $65.00 target price on shares of Hexcel Corporation in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $58.90.
Hexcel Corporation 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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