24,512 Hexcel Corporation $HXL Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC reduced its holdings in Hexcel Corporation (NYSE:HXL) by 69.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,020 shares of the aerospace company’s stock after selling 24,512 shares during the quarter. Redmond Asset Management LLC’s holdings in Hexcel were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HXL. BlackRock Inc. purchased a new stake in shares of Hexcel in the second quarter valued at approximately $1,422,742,000. Bank of America Corp DE purchased a new position in Hexcel in the second quarter worth $216,948,000. Bank of New York Mellon Corp purchased a new position in Hexcel in the second quarter worth $51,460,000. The Manufacturers Life Insurance Company purchased a new position in Hexcel in the second quarter worth $39,649,000. Finally, Squarepoint Ops LLC lifted its holdings in Hexcel by 26.8% in the second quarter. Squarepoint Ops LLC now owns 343,283 shares of the aerospace company’s stock valued at $34,349,000 after acquiring an additional 72,660 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Hexcel Stock Performance

HXL opened at $77.88 on Thursday. The stock has a market cap of $5.90 billion, a P/E ratio of 34.92, a P/E/G ratio of 1.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.57 and a quick ratio of 1.42. The stock’s 50 day simple moving average is $88.45 and its 200 day simple moving average is $90.56. Hexcel Corporation has a 1-year low of $67.38 and a 1-year high of $111.74.

Hexcel (NYSE:HXL) last issued its quarterly earnings data on Wednesday, October 21st. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. The firm had revenue of $496.40 million during the quarter, compared to analysts’ expectations of $501.95 million. Hexcel had a return on equity of 13.57% and a net margin of 8.50%. Hexcel’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. As a group, equities analysts anticipate that Hexcel Corporation will post 2.36 EPS for the current fiscal year.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be given a $0.18 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Hexcel’s dividend payout ratio (DPR) is currently 32.29%.

Insiders Place Their Bets

In other news, insider Gail Lehman sold 13,829 shares of Hexcel stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $92.10, for a total transaction of $1,273,650.90. Following the completion of the transaction, the insider owned 20,148 shares of the company’s stock, valued at $1,855,630.80. The trade was a 40.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gina Fitzsimons sold 9,675 shares of Hexcel stock in a transaction on Friday, August 14th. The stock was sold at an average price of $103.14, for a total value of $997,879.50. Following the transaction, the insider directly owned 7,712 shares of the company’s stock, valued at $795,415.68. This trade represents a 55.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Jefferies Financial Group cut their price target on shares of Hexcel from $110.00 to $98.00 and set a “hold” rating for the company in a report on Monday, September 28th. The Goldman Sachs Group increased their price target on shares of Hexcel from $88.00 to $97.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $100.00 price objective on shares of Hexcel in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada decreased their price objective on shares of Hexcel from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.67.

Hexcel Company Profile

Hexcel Corporation is an advanced materials company that develops and manufactures lightweight, high-performance composite materials and structural components. Its products are designed to improve strength, durability, fuel efficiency, and performance across demanding applications.

The company’s portfolio includes carbon fiber, fiberglass, specialty reinforcements, prepregs, adhesives, honeycomb materials, engineered core products, and composite structures. These materials and components are used in commercial aircraft, military and space systems, helicopters, wind turbine blades, and various industrial applications.

Hexcel serves customers worldwide through manufacturing, research, and distribution operations in North America, Europe, Asia, and other international markets.