Renaissance Technologies LLC Sells 125,900 Shares of Hexcel Co. (HXL)

Renaissance Technologies LLC lessened its holdings in shares of Hexcel Co. (NYSE:HXL) by 51.6% during the second quarter, HoldingsChannel.com reports. The firm owned 118,000 shares of the aerospace company’s stock after selling 125,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Hexcel were worth $7,833,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Earnest Partners LLC lifted its stake in shares of Hexcel by 2.0% during the 1st quarter. Earnest Partners LLC now owns 2,810,533 shares of the aerospace company’s stock worth $181,532,000 after purchasing an additional 54,698 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of Hexcel by 0.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 2,189,058 shares of the aerospace company’s stock worth $145,309,000 after purchasing an additional 6,908 shares during the period. Carillon Tower Advisers Inc. lifted its stake in shares of 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 purchasing an additional 836,560 shares during the period. Jennison Associates LLC lifted its stake in shares of Hexcel by 3.4% during the 2nd quarter. Jennison Associates LLC now owns 1,453,512 shares of the aerospace company’s stock worth $96,484,000 after purchasing an additional 47,849 shares during the period. Finally, Brown Advisory Inc. lifted its stake in shares of Hexcel by 1.2% during the 2nd quarter. Brown Advisory Inc. now owns 1,314,057 shares of the aerospace company’s stock worth $87,226,000 after purchasing an additional 15,141 shares during the period. 97.94% of the stock is currently owned by institutional investors.

Shares of HXL opened at $67.31 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.37 and a current ratio of 2.41. The firm has a market capitalization of $5.87 billion, a P/E ratio of 25.12, a PEG ratio of 2.62 and a beta of 1.14. Hexcel Co. has a twelve month low of $58.12 and a twelve month high of $73.42.

Hexcel (NYSE:HXL) last issued its earnings results on Monday, July 23rd. The aerospace company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $547.50 million for the quarter, compared to analyst estimates of $541.92 million. Hexcel had a return on equity of 17.56% and a net margin of 13.78%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Equities research analysts expect that Hexcel Co. will post 3.03 EPS for the current year.

A number of brokerages have weighed in on HXL. Canaccord Genuity reissued a “buy” rating and set a $80.00 price target on shares of Hexcel in a research note on Monday, July 23rd. Stephens set a $80.00 price target on Hexcel and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Cowen reissued a “buy” rating and set a $75.00 price target on shares of Hexcel in a research note on Tuesday, June 12th. ValuEngine lowered Hexcel from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. Finally, UBS Group began coverage on Hexcel in a research note on Wednesday, August 15th. They set a “sell” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Hexcel presently has an average rating of “Hold” and a consensus price target of $73.17.

In other news, Director Jeffrey A. Graves bought 1,550 shares of the business’s stock in a transaction that occurred on Friday, July 27th. The shares were acquired at an average cost of $69.00 per share, with a total value of $106,950.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $207,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

About Hexcel

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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Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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