BlackRock Inc. Has $351.10 Million Holdings in Hexcel Co. (HXL)

BlackRock Inc. reduced its stake in Hexcel Co. (NYSE:HXL) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,289,309 shares of the aerospace company’s stock after selling 320,260 shares during the period. BlackRock Inc. owned about 6.04% of Hexcel worth $351,104,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Private Capital Group LLC increased its stake in Hexcel by 1,522.4% in the 1st quarter. Private Capital Group LLC now owns 2,028 shares of the aerospace company’s stock worth $131,000 after purchasing an additional 1,903 shares during the period. Contravisory Investment Management Inc. purchased a new position in Hexcel in the 2nd quarter worth approximately $148,000. BNP Paribas Arbitrage SA increased its stake in Hexcel by 441.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,237 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 1,824 shares during the period. Glen Harbor Capital Management LLC increased its stake in Hexcel by 35.7% in the 1st quarter. Glen Harbor Capital Management LLC now owns 2,926 shares of the aerospace company’s stock worth $189,000 after purchasing an additional 770 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in Hexcel in the 1st quarter worth approximately $191,000. 98.10% of the stock is currently owned by institutional investors and hedge funds.

HXL opened at $65.78 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.37 and a current ratio of 2.41. Hexcel Co. has a 52-week low of $54.09 and a 52-week high of $73.42. The company has a market cap of $5.73 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.55 and a beta of 1.17.

Hexcel (NYSE:HXL) last posted its earnings results on Monday, July 23rd. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Hexcel had a return on equity of 17.56% and a net margin of 13.78%. The firm had revenue of $547.50 million for the quarter, compared to analysts’ expectations of $541.92 million. During the same period in the previous year, the firm earned $0.67 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. equities analysts anticipate that Hexcel Co. will post 3.03 EPS for the current year.

In other news, Director Jeffrey A. Graves purchased 1,550 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were bought at an average cost of $69.00 per share, for a total transaction of $106,950.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $207,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

A number of brokerages have commented on HXL. ValuEngine raised Hexcel from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hexcel in a research note on Monday, July 23rd. Stephens set a $80.00 target price on Hexcel and gave the company a “buy” rating in a research note on Wednesday, July 25th. Cowen reissued a “buy” rating and set a $75.00 target price on shares of Hexcel in a research note on Tuesday, June 12th. Finally, UBS Group initiated coverage on Hexcel in a research note on Wednesday, August 15th. They set a “sell” rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $73.17.

Hexcel Profile

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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Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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