Harvey Investment Co. LLC Takes Position in Hexcel Corporation (HXL)
Harvey Investment Co. LLC purchased a new stake in shares of Hexcel Corporation (NYSE:HXL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,070 shares of the aerospace company’s stock, valued at approximately $4,253,000. Harvey Investment Co. LLC owned 0.08% of Hexcel Corporation as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Hexcel Corporation by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 200 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Hexcel Corporation in the second quarter valued at about $202,000. Pacad Investment Ltd. bought a new stake in Hexcel Corporation in the second quarter valued at about $206,000. AHL Partners LLP bought a new stake in Hexcel Corporation in the second quarter valued at about $207,000. Finally, HighTower Advisors LLC bought a new stake in Hexcel Corporation in the first quarter valued at about $219,000. 96.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hexcel Corporation (NYSE HXL) traded up 3.86% during midday trading on Friday, hitting $63.76. The company’s stock had a trading volume of 1,270,794 shares. Hexcel Corporation has a 1-year low of $43.21 and a 1-year high of $63.82. The company has a market cap of $5.72 billion, a P/E ratio of 23.36 and a beta of 1.04. The company has a 50-day moving average price of $56.99 and a 200 day moving average price of $53.45.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Hexcel Corporation had a return on equity of 18.92% and a net margin of 13.13%. The firm had revenue of $491.50 million during the quarter, compared to analyst estimates of $507.77 million. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts predict that Hexcel Corporation will post $2.68 EPS for the current year.
The firm 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 $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, October 31st. Hexcel Corporation’s dividend payout ratio (DPR) is presently 18.05%.
A number of research firms recently commented on HXL. KeyCorp upped their price objective on Hexcel Corporation from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity reiterated a “hold” rating and issued a $54.00 price objective on shares of Hexcel Corporation in a report on Thursday. Bank of America Corporation upped their price objective on Hexcel Corporation from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday. Zacks Investment Research upgraded Hexcel Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Loop Capital began coverage on Hexcel Corporation in a report on Thursday, September 28th. They issued a “hold” rating and a $61.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Hexcel Corporation currently has an average rating of “Hold” and an average price target of $58.90.
About Hexcel Corporation
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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