State Street Corp lowered its position in Hexcel Corporation (NYSE:HXL) by 44.9% during the first quarter, Holdings Channel reports. The fund owned 2,156,037 shares of the aerospace company’s stock after selling 1,756,992 shares during the period. State Street Corp’s holdings in Hexcel Corporation were worth $117,615,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Hexcel Corporation by 12,782.1% in the first quarter. BlackRock Inc. now owns 4,690,618 shares of the aerospace company’s stock worth $255,874,000 after buying an additional 4,654,206 shares during the last quarter. Norges Bank purchased a new stake in Hexcel Corporation during the fourth quarter worth approximately $31,627,000. Schroder Investment Management Group boosted its stake in Hexcel Corporation by 39.7% in the first quarter. Schroder Investment Management Group now owns 1,791,793 shares of the aerospace company’s stock worth $97,546,000 after buying an additional 509,076 shares during the last quarter. Morgan Stanley boosted its stake in Hexcel Corporation by 236.2% in the first quarter. Morgan Stanley now owns 425,645 shares of the aerospace company’s stock worth $23,219,000 after buying an additional 299,028 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Hexcel Corporation by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,005,362 shares of the aerospace company’s stock worth $382,143,000 after buying an additional 257,243 shares during the last quarter.
Shares of Hexcel Corporation (NYSE HXL) opened at 53.83 on Monday. Hexcel Corporation has a 52-week low of $41.03 and a 52-week high of $55.91. The company has a market cap of $4.89 billion, a PE ratio of 19.50 and a beta of 1.04. The stock’s 50 day moving average is $51.20 and its 200 day moving average is $52.11.
Hexcel Corporation (NYSE:HXL) last announced its earnings results on Wednesday, April 19th. The aerospace company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.03. The business had revenue of $478.80 million for the quarter, compared to analyst estimates of $522.29 million. Hexcel Corporation had a return on equity of 19.45% and a net margin of 13.02%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Equities analysts forecast that Hexcel Corporation will post $2.69 EPS for the current year.
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HXL has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Hexcel Corporation from a “buy” rating to a “hold” rating in a research note on Friday, March 17th. Cowen and Company restated a “buy” rating and set a $57.00 target price on shares of Hexcel Corporation in a research note on Wednesday, April 19th. Aegis restated a “buy” rating on shares of Hexcel Corporation in a research note on Wednesday, May 31st. Canaccord Genuity restated a “hold” rating and set a $52.00 target price on shares of Hexcel Corporation in a research note on Friday, March 17th. Finally, BidaskClub upgraded shares of Hexcel Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.56.
Hexcel Corporation Company Profile
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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