Carnegie Capital Asset Management LLC lessened its position in Hexcel Co. (NYSE:HXL) by 47.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,869 shares of the aerospace company’s stock after selling 5,235 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Hexcel were worth $218,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Citizens Financial Group Inc RI raised its position in shares of Hexcel by 74.4% in the first quarter. Citizens Financial Group Inc RI now owns 1,043 shares of the aerospace company’s stock valued at $39,000 after buying an additional 445 shares during the last quarter. Renaissance Investment Group LLC grew its holdings in Hexcel by 1.7% in the first quarter. Renaissance Investment Group LLC now owns 52,450 shares of the aerospace company’s stock valued at $1,951,000 after purchasing an additional 855 shares during the period. Speece Thorson Capital Group Inc. purchased a new stake in Hexcel in the first quarter valued at approximately $3,455,000. PNC Financial Services Group Inc. grew its holdings in Hexcel by 111.6% in the first quarter. PNC Financial Services Group Inc. now owns 58,713 shares of the aerospace company’s stock valued at $2,184,000 after purchasing an additional 30,966 shares during the period. Finally, Swiss National Bank grew its holdings in Hexcel by 0.4% in the first quarter. Swiss National Bank now owns 163,600 shares of the aerospace company’s stock valued at $6,084,000 after purchasing an additional 700 shares during the period. 95.80% of the stock is owned by institutional investors and hedge funds.
HXL has been the subject of a number of recent analyst reports. Loop Capital lowered their target price on shares of Hexcel from $50.00 to $33.00 and set a “hold” rating for the company in a report on Monday, April 27th. UBS Group lowered their target price on shares of Hexcel from $68.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Bank of America restated an “underperform” rating and issued a $35.00 target price on shares of Hexcel in a report on Monday, April 13th. Canaccord Genuity lowered their target price on shares of Hexcel from $42.00 to $36.00 and set a “hold” rating for the company in a report on Tuesday, April 21st. Finally, Wells Fargo & Co decreased their price objective on shares of Hexcel from $85.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.50.
Hexcel (NYSE:HXL) last announced its earnings results on Monday, April 20th. The aerospace company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.07). The firm had revenue of $541.00 million during the quarter, compared to analysts’ expectations of $557.29 million. Hexcel had a net margin of 12.10% and a return on equity of 19.92%. Hexcel’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. Equities research analysts predict that Hexcel Co. will post 1.26 EPS for the current year.
In other news, CEO Nick L. Stanage bought 20,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $45.15 per share, for a total transaction of $903,000.00. Following the completion of the purchase, the chief executive officer now owns 283,285 shares of the company’s stock, valued at $12,790,317.75. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
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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