Hexcel Co. (HXL) Holdings Increased by CIBC Private Wealth Group LLC
CIBC Private Wealth Group LLC boosted its stake in shares of Hexcel Co. (NYSE:HXL) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,478 shares of the aerospace company’s stock after buying an additional 4,312 shares during the period. CIBC Private Wealth Group LLC owned about 0.25% of Hexcel worth $14,371,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HXL. Private Capital Group LLC grew its stake in Hexcel by 1,522.4% during the 1st quarter. Private Capital Group LLC now owns 2,028 shares of the aerospace company’s stock valued at $131,000 after acquiring an additional 1,903 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Hexcel in the 2nd quarter valued at approximately $148,000. BNP Paribas Arbitrage SA grew its stake in shares of Hexcel by 441.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,237 shares of the aerospace company’s stock valued at $148,000 after buying an additional 1,824 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of Hexcel by 35.7% in the 1st quarter. Glen Harbor Capital Management LLC now owns 2,926 shares of the aerospace company’s stock valued at $189,000 after buying an additional 770 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in shares of Hexcel in the 1st quarter valued at approximately $191,000. Hedge funds and other institutional investors own 98.36% of the company’s stock.
In other news, insider Robert George Hennemuth sold 17,885 shares of the company’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $70.46, for a total transaction of $1,260,177.10. Following the completion of the transaction, the insider now directly owns 47,279 shares in the company, valued at $3,331,278.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey A. Graves purchased 1,550 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were acquired at an average price of $69.00 per share, with a total value of $106,950.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $207,000. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
Shares of Hexcel opened at $69.54 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $6.12 billion, a P/E ratio of 24.62, a PEG ratio of 2.72 and a beta of 1.16. Hexcel Co. has a 52 week low of $51.92 and a 52 week high of $73.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.41 and a quick ratio of 1.37.
Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, July 23rd. The aerospace company reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $547.50 million during the quarter, compared to analysts’ expectations of $541.92 million. Hexcel had a return on equity of 17.56% and a net margin of 13.78%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. equities analysts forecast that Hexcel Co. will post 3.04 earnings per share for the current year.
Hexcel declared that its Board of Directors has approved a share repurchase program on Monday, May 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the aerospace company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, August 3rd will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, August 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. This is a boost from Hexcel’s previous quarterly dividend of $0.13. Hexcel’s dividend payout ratio 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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