Los Angeles Capital Management & Equity Research Inc. Boosts Position in Hexcel Co. (HXL)
Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Hexcel Co. (NYSE:HXL) by 532.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 445,700 shares of the aerospace company’s stock after acquiring an additional 375,220 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.52% of Hexcel worth $29,884,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of HXL. Carillon Tower Advisers Inc. lifted its stake in Hexcel by 79.2% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,893,456 shares of the aerospace company’s stock worth $119,687,000 after acquiring an additional 836,560 shares in the last quarter. Trinity Street Asset Management LLP acquired a new stake in Hexcel in the 2nd quarter valued at about $31,792,000. KAMES CAPITAL plc acquired a new stake in Hexcel in the 2nd quarter valued at about $20,681,000. Rockefeller Capital Management L.P. acquired a new stake in Hexcel in the 2nd quarter valued at about $17,274,000. Finally, Frontier Capital Management Co. LLC raised its position in Hexcel by 24.5% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,119,566 shares of the aerospace company’s stock valued at $74,317,000 after purchasing an additional 220,261 shares in the last quarter. 99.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on HXL shares. ValuEngine raised Hexcel from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Zacks Investment Research lowered Hexcel from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Vertical Research raised Hexcel from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, October 23rd. Credit Suisse Group reduced their price target on Hexcel from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 24th. Finally, Cowen reaffirmed a “buy” rating and issued a $75.00 price target on shares of Hexcel in a research report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.75.
Hexcel (NYSE:HXL) last released its quarterly earnings data on Monday, October 22nd. The aerospace company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Hexcel had a return on equity of 18.08% and a net margin of 13.95%. The business had revenue of $540.50 million for the quarter, compared to the consensus estimate of $545.88 million. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts expect that Hexcel Co. will post 3.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, November 2nd will be issued a $0.15 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. Hexcel’s payout ratio is currently 22.39%.
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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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