Holocene Advisors LP Acquires 38,191 Shares of Hexcel Co. (NYSE:HXL)

Holocene Advisors LP increased its holdings in Hexcel Co. (NYSE:HXL) by 101.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 75,735 shares of the aerospace company’s stock after purchasing an additional 38,191 shares during the period. Holocene Advisors LP’s holdings in Hexcel were worth $4,241,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Hexcel by 4.6% in the first quarter. BlackRock Inc. now owns 7,981,406 shares of the aerospace company’s stock worth $446,961,000 after purchasing an additional 352,484 shares during the last quarter. Alliancebernstein L.P. boosted its position in Hexcel by 77.7% during the first quarter. Alliancebernstein L.P. now owns 4,382,423 shares of the aerospace company’s stock valued at $245,416,000 after acquiring an additional 1,916,689 shares during the last quarter. Norges Bank bought a new stake in Hexcel during the fourth quarter valued at $169,027,000. Boston Partners boosted its position in Hexcel by 10.7% during the first quarter. Boston Partners now owns 3,068,377 shares of the aerospace company’s stock valued at $171,839,000 after acquiring an additional 295,785 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Hexcel by 23.7% during the first quarter. Nordea Investment Management AB now owns 2,607,049 shares of the aerospace company’s stock valued at $147,350,000 after acquiring an additional 498,751 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

HXL opened at $58.50 on Thursday. The company has a current ratio of 2.59, a quick ratio of 1.60 and a debt-to-equity ratio of 0.61. Hexcel Co. has a fifty-two week low of $31.04 and a fifty-two week high of $64.99. The stock has a 50-day simple moving average of $59.07.

Hexcel (NYSE:HXL) last posted its earnings results on Sunday, April 18th. The aerospace company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.06. Hexcel had a negative net margin of 1.94% and a negative return on equity of 2.80%. The company had revenue of $310.30 million for the quarter, compared to analyst estimates of $300.48 million. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s revenue was down 42.6% compared to the same quarter last year. Equities analysts forecast that Hexcel Co. will post 0.22 EPS for the current fiscal year.

A number of brokerages have commented on HXL. BMO Capital Markets upped their price target on shares of Hexcel from $41.00 to $57.00 and gave the company a “market perform” rating in a research report on Wednesday, April 21st. They noted that the move was a valuation call. Truist Securities upped their price target on shares of Hexcel from $35.00 to $50.00 in a research report on Wednesday, April 21st. The Goldman Sachs Group reaffirmed a “sell” rating and set a $43.00 price target on shares of Hexcel in a research report on Thursday, April 1st. Canaccord Genuity increased their price objective on shares of Hexcel from $48.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, April 26th. Finally, Wells Fargo & Company increased their price objective on shares of Hexcel from $49.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $47.29.

In related news, insider Thierry Merlot sold 1,580 shares of the company’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $56.26, for a total value of $88,890.80. Following the sale, the insider now owns 34,025 shares in the company, valued at approximately $1,914,246.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.39% of the company’s stock.

About Hexcel

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 automotive, marine, and trains.

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Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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