First Trust Advisors LP decreased its position in shares of Hexcel Co. (NYSE:HXL) by 7.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 232,235 shares of the aerospace company’s stock after selling 19,898 shares during the period. First Trust Advisors LP owned about 0.27% of Hexcel worth $15,571,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of HXL. Eagle Asset Management Inc. grew its stake in shares of Hexcel by 0.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,189,058 shares of the aerospace company’s stock worth $145,309,000 after buying an additional 6,908 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Hexcel by 2.1% in the 2nd quarter. Bank of America Corp DE now owns 1,988,626 shares of the aerospace company’s stock worth $132,005,000 after buying an additional 40,672 shares during the last quarter. Carillon Tower Advisers Inc. grew its stake in shares of Hexcel by 79.2% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,893,456 shares of the aerospace company’s stock worth $119,687,000 after buying an additional 836,560 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Hexcel by 3.4% in the 2nd quarter. Jennison Associates LLC now owns 1,453,512 shares of the aerospace company’s stock worth $96,484,000 after buying an additional 47,849 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Hexcel by 1.2% in the 2nd quarter. Brown Advisory Inc. now owns 1,314,057 shares of the aerospace company’s stock worth $87,226,000 after buying an additional 15,141 shares during the last quarter. Hedge funds and other institutional investors own 99.69% of the company’s stock.
Shares of HXL opened at $61.89 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.72. Hexcel Co. has a 12 month low of $56.46 and a 12 month high of $73.42. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.40 and a beta of 1.18.
Hexcel (NYSE:HXL) last issued its earnings results on Monday, October 22nd. The aerospace company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. Hexcel had a return on equity of 18.08% and a net margin of 13.95%. The business had revenue of $540.50 million for the quarter, compared to the consensus estimate of $545.88 million. During the same period last year, the business posted $0.71 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Hexcel Co. will post 3.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, November 2nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.97%. Hexcel’s dividend payout ratio is 22.39%.
HXL has been the topic of several recent research reports. Canaccord Genuity restated 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 price target on Hexcel and gave the stock a “buy” rating in a research note on Wednesday, July 25th. UBS Group initiated coverage on Hexcel in a research note on Wednesday, August 15th. They issued a “sell” rating and a $65.00 price target on the stock. ValuEngine downgraded Hexcel from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. Finally, Zacks Investment Research downgraded Hexcel from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $72.75.
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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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