Hexcel Co. (HXL) Shares Bought by Credit Suisse AG
Credit Suisse AG raised its position in Hexcel Co. (NYSE:HXL) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 189,021 shares of the aerospace company’s stock after buying an additional 52,064 shares during the period. Credit Suisse AG owned about 0.22% of Hexcel worth $12,673,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its holdings in shares of Hexcel by 441.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,237 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 1,824 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Hexcel by 4.4% during the second quarter. Aperio Group LLC now owns 46,017 shares of the aerospace company’s stock worth $3,055,000 after purchasing an additional 1,950 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Hexcel by 20.2% during the second quarter. First Trust Advisors LP now owns 252,133 shares of the aerospace company’s stock worth $16,737,000 after purchasing an additional 42,369 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Hexcel by 2.0% during the second quarter. CIBC Private Wealth Group LLC now owns 216,478 shares of the aerospace company’s stock worth $14,371,000 after purchasing an additional 4,312 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Hexcel by 16.9% during the second quarter. Sei Investments Co. now owns 94,868 shares of the aerospace company’s stock worth $6,297,000 after purchasing an additional 13,741 shares during the last quarter. Institutional investors own 97.99% of the company’s stock.
Several analysts have recently weighed in on HXL shares. UBS Group started coverage on Hexcel in a report on Wednesday, August 15th. They set a “sell” rating and a $65.00 price target on the stock. ValuEngine cut Hexcel from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. Zacks Investment Research cut Hexcel from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Cowen restated a “buy” rating and set a $75.00 price target on shares of Hexcel in a report on Monday, October 22nd. Finally, Vertical Research upgraded Hexcel from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Hexcel currently has an average rating of “Hold” and a consensus target price of $72.75.
Hexcel (NYSE:HXL) last announced its earnings results on Monday, October 22nd. The aerospace company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $545.88 million. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Hexcel Co. will post 3.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, November 2nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, November 1st. Hexcel’s payout ratio is presently 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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