Fred Alger Management Inc. lessened its stake in shares of Hexcel Co. (NYSE:HXL) by 36.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 99,413 shares of the aerospace company’s stock after selling 57,708 shares during the period. Fred Alger Management Inc. owned about 0.11% of Hexcel worth $6,149,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Hexcel by 1.1% during the 4th quarter. BlackRock Inc. now owns 5,258,284 shares of the aerospace company’s stock valued at $325,224,000 after acquiring an additional 56,260 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Hexcel by 0.7% during the 3rd quarter. Earnest Partners LLC now owns 2,806,392 shares of the aerospace company’s stock valued at $161,143,000 after acquiring an additional 18,602 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Hexcel by 10.9% during the 4th quarter. Schroder Investment Management Group now owns 2,238,178 shares of the aerospace company’s stock valued at $138,432,000 after acquiring an additional 219,383 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Hexcel by 1.0% during the 4th quarter. Eagle Asset Management Inc. now owns 2,092,053 shares of the aerospace company’s stock valued at $129,809,000 after acquiring an additional 21,337 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Hexcel by 6.1% during the 3rd quarter. Brown Advisory Inc. now owns 1,884,626 shares of the aerospace company’s stock valued at $108,216,000 after acquiring an additional 108,285 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.
In other news, CEO Nick L. Stanage sold 25,000 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $63.02, for a total value of $1,575,500.00. Following the transaction, the chief executive officer now directly owns 179,463 shares of the company’s stock, valued at $11,309,758.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nick L. Stanage sold 27,174 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $64.01, for a total transaction of $1,739,407.74. Following the completion of the transaction, the chief executive officer now directly owns 181,637 shares in the company, valued at $11,626,584.37. The disclosure for this sale can be found here. Insiders sold 77,174 shares of company stock worth $4,864,978 over the last ninety days. 2.10% of the stock is currently owned by company insiders.
Hexcel (NYSE:HXL) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $0.70 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.70. Hexcel had a net margin of 14.39% and a return on equity of 17.86%. The business had revenue of $511.70 million for the quarter, compared to the consensus estimate of $506.70 million. During the same period in the prior year, the business posted $0.64 earnings per share. Hexcel’s revenue for the quarter was up 5.8% compared to the same quarter last year. sell-side analysts expect that Hexcel Co. will post 3.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, February 5th. Hexcel’s dividend payout ratio (DPR) is presently 16.18%.
A number of equities research analysts have recently commented on HXL shares. Stephens increased their price objective on Hexcel from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Loop Capital set a $64.00 target price on Hexcel and gave the company a “hold” rating in a report on Thursday, December 14th. ValuEngine upgraded Hexcel from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Hexcel from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, Canaccord Genuity restated a “hold” rating and issued a $62.00 target price on shares of Hexcel in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $65.90.
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Hexcel Company 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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