Cubist Systematic Strategies LLC lessened its holdings in Hexcel Corporation (NYSE:HXL) by 87.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,828 shares of the aerospace company’s stock after selling 19,070 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Hexcel Corporation were worth $149,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. raised its holdings in Hexcel Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,930 shares of the aerospace company’s stock valued at $471,000 after buying an additional 23 shares during the last quarter. Advisor Group Inc. raised its holdings in Hexcel Corporation by 0.5% in the 2nd quarter. Advisor Group Inc. now owns 5,201 shares of the aerospace company’s stock valued at $275,000 after buying an additional 24 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Hexcel Corporation by 1.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,326 shares of the aerospace company’s stock valued at $387,000 after buying an additional 97 shares during the last quarter. Comerica Bank raised its holdings in Hexcel Corporation by 1.4% in the 2nd quarter. Comerica Bank now owns 9,056 shares of the aerospace company’s stock valued at $494,000 after buying an additional 128 shares during the last quarter. Finally, Monroe Bank & Trust MI raised its holdings in Hexcel Corporation by 0.7% in the 2nd quarter. Monroe Bank & Trust MI now owns 25,720 shares of the aerospace company’s stock valued at $1,358,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 96.50% of the company’s stock.
Shares of Hexcel Corporation (HXL) opened at $61.55 on Monday. The company has a market cap of $5,528.76, a P/E ratio of 23.49, a PEG ratio of 2.90 and a beta of 1.10. Hexcel Corporation has a 52-week low of $44.72 and a 52-week high of $63.93. The company has a current ratio of 2.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.58.
Hexcel Corporation (NYSE:HXL) last announced its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $491.50 million during the quarter, compared to the consensus estimate of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. research analysts expect that Hexcel Corporation will post 2.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, October 31st. Hexcel Corporation’s dividend payout ratio (DPR) is 18.05%.
HXL has been the subject of several analyst reports. Zacks Investment Research lowered shares of Hexcel Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Canaccord Genuity restated a “hold” rating and set a $54.00 price target on shares of Hexcel Corporation in a report on Friday, September 29th. Loop Capital initiated coverage on shares of Hexcel Corporation in a report on Thursday, September 28th. They set a “hold” rating and a $61.00 price target for the company. KeyCorp restated a “buy” rating and set a $60.00 price target on shares of Hexcel Corporation in a report on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $50.00 price target on shares of Hexcel Corporation in a report on Friday, September 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Hexcel Corporation presently has a consensus rating of “Hold” and an average target price of $59.20.
In other news, SVP Kimberly A. Hendricks sold 2,608 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $63.35, for a total transaction of $165,216.80. Following the completion of the sale, the senior vice president now owns 22,221 shares of the company’s stock, valued at approximately $1,407,700.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.10% of the company’s stock.
Hexcel Corporation 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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