Markel Corp boosted its holdings in shares of Hexcel Co. (NYSE:HXL) by 8.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,000 shares of the aerospace company’s stock after acquiring an additional 13,000 shares during the quarter. Markel Corp’s holdings in Hexcel were worth $12,860,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HXL. Forbes J M & Co. LLP boosted its holdings in Hexcel by 10.4% in the second quarter. Forbes J M & Co. LLP now owns 151,687 shares of the aerospace company’s stock valued at $12,268,000 after purchasing an additional 14,338 shares during the period. Swiss National Bank boosted its holdings in Hexcel by 1.0% in the second quarter. Swiss National Bank now owns 157,900 shares of the aerospace company’s stock valued at $12,771,000 after purchasing an additional 1,500 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Hexcel by 12.6% in the second quarter. TimesSquare Capital Management LLC now owns 1,506,260 shares of the aerospace company’s stock valued at $121,826,000 after purchasing an additional 168,360 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Hexcel by 8.9% in the second quarter. Envestnet Asset Management Inc. now owns 167,834 shares of the aerospace company’s stock valued at $13,574,000 after purchasing an additional 13,769 shares during the period. Finally, Ownership Capital B.V. boosted its holdings in Hexcel by 2.0% in the second quarter. Ownership Capital B.V. now owns 1,604,175 shares of the aerospace company’s stock valued at $129,746,000 after purchasing an additional 31,982 shares during the period. 92.34% of the stock is owned by institutional investors.
Shares of HXL traded down $0.69 during midday trading on Friday, reaching $79.80. 661,400 shares of the stock were exchanged, compared to its average volume of 490,688. The business’s 50-day moving average price is $81.05 and its 200 day moving average price is $73.93. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.22 and a quick ratio of 1.28. Hexcel Co. has a twelve month low of $53.50 and a twelve month high of $85.63. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 2.22 and a beta of 1.09.
The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.85%. The ex-dividend date was Thursday, August 1st. This is a boost from Hexcel’s previous quarterly dividend of $0.15. Hexcel’s payout ratio is 22.30%.
In related news, insider Gail E. Lehman sold 733 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $74.56, for a total value of $54,652.48. Following the transaction, the insider now owns 733 shares in the company, valued at approximately $54,652.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thierry Merlot sold 6,100 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $73.71, for a total value of $449,631.00. Following the completion of the transaction, the insider now owns 33,864 shares in the company, valued at approximately $2,496,115.44. The disclosure for this sale can be found here. Insiders sold a total of 10,333 shares of company stock worth $770,283 in the last 90 days. 1.40% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on the company. Barclays reiterated a “hold” rating and issued a $77.00 target price on shares of Hexcel in a report on Sunday, May 26th. UBS Group upgraded Hexcel from a “sell” rating to a “neutral” rating and lifted their target price for the company from $67.00 to $76.00 in a report on Thursday, May 23rd. ValuEngine lowered Hexcel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Goldman Sachs Group lowered Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a report on Friday. Finally, Bank of America reaffirmed a “buy” rating and set a $90.00 price target (down from $95.00) on shares of Hexcel in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $81.05.
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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