United Capital Financial Advisers LLC lowered its stake in Hexcel Co. (NYSE:HXL) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,486 shares of the aerospace company’s stock after selling 1,133 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Hexcel were worth $2,466,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in HXL. Creative Planning raised its holdings in shares of Hexcel by 4.3% during the second quarter. Creative Planning now owns 3,034 shares of the aerospace company’s stock valued at $245,000 after acquiring an additional 124 shares in the last quarter. Machina Capital S.A.S. grew its stake in Hexcel by 22.4% in the second quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock worth $60,000 after purchasing an additional 136 shares during the period. First Allied Advisory Services Inc. grew its stake in Hexcel by 7.9% in the second quarter. First Allied Advisory Services Inc. now owns 3,239 shares of the aerospace company’s stock worth $262,000 after purchasing an additional 237 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Hexcel by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 96,982 shares of the aerospace company’s stock worth $6,707,000 after purchasing an additional 260 shares during the period. Finally, Comerica Bank grew its stake in Hexcel by 4.7% in the first quarter. Comerica Bank now owns 5,892 shares of the aerospace company’s stock worth $401,000 after purchasing an additional 266 shares during the period. Hedge funds and other institutional investors own 94.21% of the company’s stock.
Shares of NYSE:HXL traded down $0.93 during trading on Wednesday, hitting $82.50. 4,017 shares of the company’s stock were exchanged, compared to its average volume of 436,534. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.22 and a quick ratio of 1.28. Hexcel Co. has a 52-week low of $53.50 and a 52-week high of $87.00. The business’s 50-day simple moving average is $81.81 and its 200 day simple moving average is $75.74. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.26 and a beta of 1.04.
In related news, insider Brett Raymond Schneider sold 4,417 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $81.61, for a total transaction of $360,471.37. Following the completion of the sale, the insider now owns 10,201 shares in the company, valued at $832,503.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nick L. Stanage sold 15,662 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $85.75, for a total value of $1,343,016.50. Following the sale, the chief executive officer now owns 256,853 shares of the company’s stock, valued at approximately $22,025,144.75. The disclosure for this sale can be found here. Insiders have sold 57,623 shares of company stock valued at $4,840,665 in the last quarter. 1.40% of the stock is currently owned by company insiders.
HXL has been the topic of a number of recent research reports. Goldman Sachs Group cut Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 target price on the stock. in a research note on Friday, August 16th. Barclays reaffirmed a “hold” rating and set a $77.00 price objective on shares of Hexcel in a research report on Sunday, May 26th. Bank of America reaffirmed a “buy” rating and set a $90.00 price objective (down from $95.00) on shares of Hexcel in a research report on Wednesday, July 24th. ValuEngine cut Hexcel from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets increased their price objective on Hexcel from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Hexcel has a consensus rating of “Hold” and a consensus price target of $81.05.
Hexcel Company Profile
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.
Further Reading: Depreciation
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