BTIM Corp. raised its stake in Hexcel Co. (NYSE:HXL) by 4.9% in the third quarter, HoldingsChannel reports. The firm owned 84,135 shares of the aerospace company’s stock after acquiring an additional 3,919 shares during the quarter. BTIM Corp.’s holdings in Hexcel were worth $5,641,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of HXL. SRS Capital Advisors Inc. grew its stake in Hexcel by 84.1% in the second quarter. SRS Capital Advisors Inc. now owns 2,053 shares of the aerospace company’s stock valued at $136,000 after purchasing an additional 938 shares in the last quarter. Canton Hathaway LLC bought a new position in Hexcel in the third quarter valued at approximately $144,000. Contravisory Investment Management Inc. bought a new position in Hexcel in the second quarter valued at approximately $148,000. BNP Paribas Arbitrage SA grew its stake in Hexcel by 441.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,237 shares of the aerospace company’s stock valued at $148,000 after purchasing an additional 1,824 shares in the last quarter. Finally, Kovack Advisors Inc. bought a new position in Hexcel in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 98.16% of the company’s stock.
A number of research firms have weighed in on HXL. UBS Group began coverage on Hexcel in a research note on Wednesday, August 15th. They issued a “sell” rating and a $65.00 price target for the company. Stephens set a $80.00 target price on Hexcel and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Canaccord Genuity reiterated a “buy” rating and set a $80.00 target price on shares of Hexcel in a research note on Monday, July 23rd. ValuEngine downgraded Hexcel from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, Cowen reiterated a “buy” rating and set a $75.00 target price on shares of Hexcel in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.75.
Hexcel (NYSE:HXL) last issued its earnings results on Monday, October 22nd. The aerospace company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.02. Hexcel had a return on equity of 17.72% and a net margin of 13.95%. The company had revenue of $540.50 million during the quarter, compared to the consensus estimate of $545.88 million. During the same period in the previous year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that Hexcel Co. will post 3.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, November 2nd will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.60 annualized dividend and a yield of 1.03%. Hexcel’s dividend payout ratio (DPR) is presently 22.39%.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. The company 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, honeycombs, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blade, recreational product, and other industrial applications, as well as in cars, boats, and trains.
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