Alps Advisors Inc. bought a new stake in shares of Hexcel (NYSE:HXL) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,056 shares of the aerospace company’s stock, valued at approximately $456,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HXL. Aperio Group LLC lifted its position in shares of Hexcel by 2.0% in the fourth quarter. Aperio Group LLC now owns 41,126 shares of the aerospace company’s stock valued at $2,544,000 after acquiring an additional 818 shares in the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of Hexcel by 12.1% in the fourth quarter. Greenwood Capital Associates LLC now owns 8,599 shares of the aerospace company’s stock worth $532,000 after purchasing an additional 929 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Hexcel by 1.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 94,892 shares of the aerospace company’s stock worth $5,869,000 after purchasing an additional 946 shares during the last quarter. Amalgamated Bank increased its stake in Hexcel by 5.9% during the fourth quarter. Amalgamated Bank now owns 17,644 shares of the aerospace company’s stock worth $1,091,000 after acquiring an additional 980 shares during the last quarter. Finally, BRYN MAWR TRUST Co increased its stake in Hexcel by 0.9% during the fourth quarter. BRYN MAWR TRUST Co now owns 118,794 shares of the aerospace company’s stock worth $7,348,000 after acquiring an additional 1,034 shares during the last quarter. Institutional investors own 96.01% of the company’s stock.
Several brokerages have weighed in on HXL. Credit Suisse Group boosted their price objective on Hexcel from $67.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 25th. Zacks Investment Research cut Hexcel from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Canaccord Genuity reaffirmed a “hold” rating and set a $70.00 target price on shares of Hexcel in a research note on Tuesday, April 24th. BMO Capital Markets assumed coverage on Hexcel in a research note on Tuesday, March 27th. They set a “market perform” rating and a $74.00 target price on the stock. Finally, Stephens upped their target price on Hexcel from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $71.58.
Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, April 23rd. The aerospace company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. Hexcel had a return on equity of 17.36% and a net margin of 13.81%. The business had revenue of $540.10 million for the quarter, compared to the consensus estimate of $510.73 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. analysts predict that Hexcel will post 3.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Friday, May 4th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Thursday, May 3rd. Hexcel’s payout ratio is 18.66%.
Hexcel announced that its Board of Directors has authorized a stock repurchase program on Monday, May 7th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In related news, insider Thierry Merlot sold 9,215 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $65.99, for a total value of $608,097.85. Following the transaction, the insider now directly owns 32,331 shares of the company’s stock, valued at approximately $2,133,522.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. The company 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, honeycombs, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blade, recreational product, and other industrial applications, as well as in cars, boats, and trains.
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