First Manhattan Co. Has $200,000 Position in Hexcel Corporation (HXL)
First Manhattan Co. decreased its position in shares of Hexcel Corporation (NYSE:HXL) by 25.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the aerospace company’s stock after selling 1,300 shares during the period. First Manhattan Co.’s holdings in Hexcel Corporation were worth $200,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Markel Corp increased its position in Hexcel Corporation by 97.0% in the second quarter. Markel Corp now owns 65,000 shares of the aerospace company’s stock worth $3,431,000 after buying an additional 32,000 shares during the period. Moody Aldrich Partners LLC increased its position in Hexcel Corporation by 31.6% in the second quarter. Moody Aldrich Partners LLC now owns 22,965 shares of the aerospace company’s stock worth $1,212,000 after buying an additional 5,515 shares during the period. State of New Jersey Common Pension Fund D increased its position in Hexcel Corporation by 110.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 105,000 shares of the aerospace company’s stock worth $5,543,000 after buying an additional 55,000 shares during the period. Ownership Capital B.V. increased its position in Hexcel Corporation by 6.2% in the second quarter. Ownership Capital B.V. now owns 1,612,863 shares of the aerospace company’s stock worth $85,143,000 after buying an additional 94,833 shares during the period. Finally, Mitchell Capital Management Co. increased its position in Hexcel Corporation by 0.8% in the second quarter. Mitchell Capital Management Co. now owns 125,083 shares of the aerospace company’s stock worth $6,603,000 after buying an additional 1,008 shares during the period.
Hexcel Corporation (NYSE HXL) opened at 52.53 on Friday. The stock has a 50 day moving average price of $53.04 and a 200-day moving average price of $52.49. Hexcel Corporation has a 52 week low of $41.03 and a 52 week high of $55.91. The stock has a market cap of $4.72 billion, a P/E ratio of 19.24 and a beta of 1.04.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings results on Monday, July 24th. The aerospace company reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.02. Hexcel Corporation had a net margin of 12.99% and a return on equity of 18.69%. The firm had revenue of $491.30 million for the quarter, compared to analysts’ expectations of $518.29 million. During the same quarter in the previous year, the company earned $0.70 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Hexcel Corporation will post $2.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, August 3rd were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.50 annualized dividend and a yield of 0.95%. This is a boost from Hexcel Corporation’s previous quarterly dividend of $0.11. Hexcel Corporation’s dividend payout ratio (DPR) is currently 18.32%.
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A number of equities analysts have issued reports on the company. Cowen and Company reiterated a “buy” rating and set a $57.00 price target on shares of Hexcel Corporation in a research note on Wednesday. BidaskClub downgraded Hexcel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research downgraded Hexcel Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Vertical Research downgraded Hexcel Corporation from a “buy” rating to a “hold” rating and cut their price target for the company from $58.00 to $54.00 in a research note on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $50.00 target price (down previously from $52.00) on shares of Hexcel Corporation in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.89.
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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