Renaissance Investment Group LLC purchased a new position in shares of Hexcel Co. (NYSE:HXL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 47,500 shares of the aerospace company’s stock, valued at approximately $3,842,000. Renaissance Investment Group LLC owned about 0.06% of Hexcel at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation N.A. acquired a new stake in shares of Hexcel during the 1st quarter worth approximately $45,000. Manchester Capital Management LLC acquired a new stake in Hexcel in the 1st quarter valued at $68,000. Cullen Frost Bankers Inc. acquired a new stake in Hexcel in the 1st quarter valued at $90,000. Quadrant Capital Group LLC grew its stake in Hexcel by 319.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,454 shares of the aerospace company’s stock valued at $97,000 after acquiring an additional 1,107 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Hexcel in the 1st quarter valued at $106,000. 92.68% of the stock is owned by institutional investors.
In other news, insider Kimberly A. Hendricks sold 3,500 shares of Hexcel stock in a transaction on Friday, June 7th. The stock was sold at an average price of $76.00, for a total transaction of $266,000.00. Following the transaction, the insider now owns 30,843 shares in the company, valued at approximately $2,344,068. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Swords sold 20,395 shares of Hexcel stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $70.86, for a total value of $1,445,189.70. Following the transaction, the insider now owns 16,839 shares in the company, valued at approximately $1,193,211.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,179 shares of company stock worth $2,600,947. Insiders own 1.40% of the company’s stock.
HXL stock traded up $0.55 during midday trading on Friday, reaching $83.45. The stock had a trading volume of 141,882 shares, compared to its average volume of 565,001. The firm has a fifty day moving average price of $79.56. The company has a current ratio of 2.22, a quick ratio of 1.28 and a debt-to-equity ratio of 0.77. The stock has a market cap of $7.05 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.39 and a beta of 1.11. Hexcel Co. has a 52-week low of $53.50 and a 52-week high of $85.63.
Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, July 22nd. The aerospace company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $609.00 million for the quarter, compared to analyst estimates of $606.03 million. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. On average, analysts predict that Hexcel Co. will post 3.5 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, August 1st. This is a positive change from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is currently 19.67%.
HXL has been the topic of a number of research analyst reports. Barclays reissued a “hold” rating and issued a $77.00 price target on shares of Hexcel in a research note on Sunday, May 26th. Credit Suisse Group raised their price objective on Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Bank of America restated a “buy” rating and issued a $90.00 price objective (down previously from $95.00) on shares of Hexcel in a report on Wednesday. Finally, UBS Group lowered AGL Energy to a “sell” rating in a report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $81.78.
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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