Oppenheimer Asset Management Inc. Sells 6,363 Shares of Hexcel Co. (NYSE:HXL)

Oppenheimer Asset Management Inc. lowered its position in Hexcel Co. (NYSE:HXL) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,820 shares of the aerospace company’s stock after selling 6,363 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Hexcel were worth $2,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Hexcel by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,846,871 shares of the aerospace company’s stock worth $578,707,000 after buying an additional 27,850 shares during the period. TimesSquare Capital Management LLC lifted its position in shares of Hexcel by 93.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,503,055 shares of the aerospace company’s stock worth $110,850,000 after buying an additional 724,280 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Hexcel by 143.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,466,380 shares of the aerospace company’s stock worth $108,146,000 after buying an additional 864,405 shares during the period. Victory Capital Management Inc. raised its position in Hexcel by 6.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,377,915 shares of the aerospace company’s stock valued at $101,621,000 after purchasing an additional 81,389 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Hexcel by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,353,980 shares of the aerospace company’s stock valued at $99,857,000 after purchasing an additional 59,976 shares during the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Trading Up 1.7 %

NYSE HXL traded up $1.12 on Friday, reaching $66.72. The company had a trading volume of 1,097,486 shares, compared to its average volume of 860,990. The stock’s 50 day moving average is $67.16 and its 200-day moving average is $69.31. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 1.29 and a beta of 1.28. The company has a quick ratio of 1.51, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Hexcel Co. has a 52 week low of $58.81 and a 52 week high of $78.28.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The business had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. Hexcel had a return on equity of 8.97% and a net margin of 5.52%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share. Equities analysts predict that Hexcel Co. will post 2.18 earnings per share for the current year.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, May 3rd were issued a $0.15 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $0.60 annualized dividend and a dividend yield of 0.90%. Hexcel’s dividend payout ratio (DPR) is currently 51.28%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Northcoast Research downgraded Hexcel from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. Stifel Nicolaus cut their price objective on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. The Goldman Sachs Group lifted their price objective on Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Hexcel in a research report on Friday, June 14th. Finally, Wells Fargo & Company upgraded Hexcel from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $81.00 to $95.00 in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.86.

Insiders Place Their Bets

In other Hexcel news, Director Catherine A. Suever purchased 400 shares of the stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $68.33 per share, for a total transaction of $27,332.00. Following the completion of the acquisition, the director now directly owns 15,748 shares of the company’s stock, valued at $1,076,060.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Guy C. Hachey acquired 3,000 shares of Hexcel stock in a transaction dated Monday, April 29th. The stock was bought at an average cost of $64.53 per share, with a total value of $193,590.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $193,590. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine A. Suever acquired 400 shares of Hexcel stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $68.33 per share, with a total value of $27,332.00. Following the completion of the transaction, the director now directly owns 15,748 shares of the company’s stock, valued at $1,076,060.84. The disclosure for this purchase can be found here. Insiders acquired 43,400 shares of company stock worth $2,820,322 over the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Hexcel Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.