ELCO Management Co. LLC trimmed its position in shares of Hexcel Co. (NYSE:HXL) by 5.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,226 shares of the aerospace company’s stock after selling 4,925 shares during the quarter. Hexcel makes up about 3.8% of ELCO Management Co. LLC’s investment portfolio, making the stock its 3rd largest holding. ELCO Management Co. LLC’s holdings in Hexcel were worth $6,517,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in HXL. Group One Trading L.P. raised its stake in shares of Hexcel by 3,500.0% in the 1st quarter. Group One Trading L.P. now owns 1,800 shares of the aerospace company’s stock valued at $124,000 after acquiring an additional 1,750 shares in the last quarter. Neuberger Berman Group LLC increased its position in Hexcel by 17.3% in the 1st quarter. Neuberger Berman Group LLC now owns 196,353 shares of the aerospace company’s stock worth $13,579,000 after buying an additional 28,899 shares during the period. Northern Trust Corp increased its position in Hexcel by 0.5% in the 1st quarter. Northern Trust Corp now owns 464,495 shares of the aerospace company’s stock worth $32,125,000 after buying an additional 2,231 shares during the period. Commonwealth Equity Services LLC increased its position in Hexcel by 186.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 191,424 shares of the aerospace company’s stock worth $13,238,000 after buying an additional 124,539 shares during the period. Finally, Citigroup Inc. increased its position in Hexcel by 97.4% in the 1st quarter. Citigroup Inc. now owns 96,916 shares of the aerospace company’s stock worth $6,703,000 after buying an additional 47,826 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.
Several research analysts have commented on HXL shares. Cowen reaffirmed a “buy” rating and issued a $75.00 price target on shares of Hexcel in a research report on Wednesday, April 24th. Zacks Investment Research raised Hexcel from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Friday, February 15th. Loop Capital downgraded Hexcel from a “buy” rating to a “hold” rating and set a $71.57 price target on the stock. in a research report on Wednesday, March 6th. ValuEngine raised Hexcel from a “hold” rating to a “buy” rating in a research report on Friday. Finally, UBS Group raised Hexcel from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $67.00 to $76.00 in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $77.05.
Hexcel (NYSE:HXL) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $609.90 million for the quarter, compared to analysts’ expectations of $590.13 million. Hexcel had a return on equity of 20.63% and a net margin of 12.71%. Hexcel’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, research analysts predict that Hexcel Co. will post 3.46 earnings per share for the current year.
In other news, insider Thierry Merlot sold 3,241 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $71.00, for a total transaction of $230,111.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy Swords sold 20,395 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $70.86, for a total value of $1,445,189.70. Following the sale, the insider now owns 16,839 shares in the company, valued at $1,193,211.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,679 shares of company stock worth $2,334,947. 1.40% of the stock is currently owned by company insiders.
Hexcel Company Profile
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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