BRYN MAWR TRUST Co lessened its holdings in Hexcel Co. (NYSE:HXL) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,587 shares of the aerospace company’s stock after selling 1,300 shares during the period. BRYN MAWR TRUST Co’s holdings in Hexcel were worth $9,494,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of Hexcel during the second quarter worth about $34,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Hexcel during the second quarter worth about $54,000. Machina Capital S.A.S. grew its holdings in shares of Hexcel by 22.4% during the second quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock worth $60,000 after purchasing an additional 136 shares during the last quarter. NEXT Financial Group Inc grew its holdings in shares of Hexcel by 46.4% during the third quarter. NEXT Financial Group Inc now owns 751 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 238 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Hexcel during the second quarter worth about $83,000. Hedge funds and other institutional investors own 94.23% of the company’s stock.
In other Hexcel news, insider Robert George Hennemuth sold 37,544 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $83.56, for a total value of $3,137,176.64. Following the transaction, the insider now directly owns 73,046 shares of the company’s stock, valued at $6,103,723.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nick L. Stanage sold 15,662 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $85.75, for a total value of $1,343,016.50. Following the completion of the transaction, the chief executive officer now directly owns 256,853 shares in the company, valued at $22,025,144.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,623 shares of company stock worth $4,840,665. 1.40% of the stock is owned by insiders.
Hexcel (NYSE:HXL) last posted its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $572.50 million for the quarter, compared to analyst estimates of $598.88 million. Hexcel had a return on equity of 21.74% and a net margin of 12.73%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. Equities analysts anticipate that Hexcel Co. will post 3.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, October 31st. Hexcel’s dividend payout ratio is currently 22.30%.
HXL has been the topic of several research reports. Credit Suisse Group reduced their price target on Hexcel from $79.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Co initiated coverage on Hexcel in a report on Tuesday, October 15th. They set a “market perform” rating and a $85.00 price target on the stock. Bank of America cut Hexcel from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $95.00 to $80.00 in a report on Tuesday, October 1st. Canaccord Genuity boosted their price target on Hexcel from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, KeyCorp boosted their price target on Hexcel from $86.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Hexcel currently has an average rating of “Hold” and an average target price of $82.21.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It 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, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in cars, boats, and trains.
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