Bank of Montreal Can acquired a new position in shares of Hexcel Corp. (NYSE:HXL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 196,612 shares of the company’s stock, valued at approximately $8,186,000.
A number of other large investors also recently made changes to their positions in the stock. Teachers Advisors Inc. increased its position in Hexcel Corp. by 1.4% in the first quarter. Teachers Advisors Inc. now owns 91,327 shares of the company’s stock worth $3,992,000 after buying an additional 1,295 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Hexcel Corp. by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 30,559 shares of the company’s stock worth $1,336,000 after buying an additional 743 shares in the last quarter. BlackRock Group LTD increased its position in Hexcel Corp. by 17.6% in the first quarter. BlackRock Group LTD now owns 76,376 shares of the company’s stock worth $3,339,000 after buying an additional 11,419 shares in the last quarter. State Street Corp increased its position in Hexcel Corp. by 3.2% in the first quarter. State Street Corp now owns 1,369,045 shares of the company’s stock worth $59,838,000 after buying an additional 42,200 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new position in Hexcel Corp. during the first quarter worth approximately $772,000. 98.27% of the stock is owned by institutional investors and hedge funds.
Hexcel Corp. (NYSE:HXL) traded down 3.10% during mid-day trading on Friday, hitting $43.42. The stock had a trading volume of 843,409 shares. The company has a market cap of $4.02 billion, a PE ratio of 18.04 and a beta of 0.98. Hexcel Corp. has a one year low of $37.54 and a one year high of $48.33. The firm’s 50-day moving average price is $44.34 and its 200 day moving average price is $43.78.
Hexcel Corp. (NYSE:HXL) last announced its earnings results on Wednesday, July 20th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Hexcel Corp. had a return on equity of 19.06% and a net margin of 11.87%. The business earned $522.60 million during the quarter, compared to the consensus estimate of $504.31 million. During the same period in the prior year, the company posted $0.63 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Hexcel Corp. will post $2.54 EPS for the current year.
A number of research analysts have recently commented on the company. Canaccord Genuity set a $48.00 target price on Hexcel Corp. and gave the company a “hold” rating in a research report on Wednesday, July 20th. Jefferies Group reiterated a “hold” rating and set a $44.00 target price on shares of Hexcel Corp. in a research report on Wednesday, August 10th. Zacks Investment Research upgraded Hexcel Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Finally, Bank of America Corp. downgraded Hexcel Corp. from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Friday, July 29th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.70.
In related news, insider Thierry Merlot sold 8,600 shares of the business’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 transaction of $387,086.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at $1,188,849.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Charles Hill sold 1,188 shares of the business’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 disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
Hexcel Corp. Company Profile
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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