Alps Advisors Inc. decreased its position in shares of Hexcel Corp. (NYSE:HXL) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,122 shares of the company’s stock after selling 672 shares during the period. Alps Advisors Inc.’s holdings in Hexcel Corp. were worth $380,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Moody Aldrich Partners LLC increased its stake in shares of Hexcel Corp. by 133.2% in the second quarter. Moody Aldrich Partners LLC now owns 29,590 shares of the company’s stock worth $1,232,000 after buying an additional 16,900 shares during the last quarter. Ownership Capital B.V. increased its stake in shares of Hexcel Corp. by 15.0% in the second quarter. Ownership Capital B.V. now owns 1,287,147 shares of the company’s stock worth $53,597,000 after buying an additional 168,041 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Hexcel Corp. during the second quarter worth about $8,186,000. CIBC World Markets Inc. bought a new stake in shares of Hexcel Corp. during the second quarter worth about $416,000. Finally, Nordea Investment Management AB increased its stake in shares of Hexcel Corp. by 9.1% in the second quarter. Nordea Investment Management AB now owns 97,482 shares of the company’s stock worth $4,059,000 after buying an additional 8,139 shares during the last quarter. 98.27% of the stock is currently owned by hedge funds and other institutional investors.
Hexcel Corp. (NYSE:HXL) traded down 2.39% on Tuesday, hitting $42.46. 664,294 shares of the company were exchanged. The stock has a market capitalization of $3.93 billion, a P/E ratio of 17.64 and a beta of 0.98. Hexcel Corp. has a 52-week low of $37.54 and a 52-week high of $48.33. The stock’s 50-day moving average price is $44.30 and its 200-day moving average price is $43.77.
Hexcel Corp. (NYSE:HXL) last issued its earnings results on Wednesday, July 20th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.05. The firm had revenue of $522.60 million for the quarter, compared to analyst estimates of $504.31 million. Hexcel Corp. had a return on equity of 19.06% and a net margin of 11.87%. Hexcel Corp.’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, equities research analysts anticipate that Hexcel Corp. will post $2.54 earnings per share for the current fiscal year.
A number of research firms recently issued reports on HXL. Jefferies Group reissued a “hold” rating and issued a $44.00 price objective on shares of Hexcel Corp. in a report on Wednesday, August 10th. Bank of America Corp. cut shares of Hexcel Corp. from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Friday, July 29th. Zacks Investment Research upgraded shares of Hexcel Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Finally, Canaccord Genuity set a $48.00 target price on shares of Hexcel Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.70.
In other Hexcel Corp. news, Director David Charles Hill sold 1,188 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $44.47, for a total value of $52,830.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Thierry Merlot sold 8,600 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $45.01, for a total value of $387,086.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $1,188,849.13. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.
About Hexcel Corp.
Hexcel Corporation is a composites company. The Company develops, manufactures and markets structural materials, including carbon fibers, reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and composite structures for use in commercial aerospace, space and defense and industrial markets.
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