Pinnacle Associates Ltd. Cuts Holdings in Hexcel Co. (HXL)

Pinnacle Associates Ltd. lowered its position in Hexcel Co. (NYSE:HXL) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 691,625 shares of the aerospace company’s stock after selling 65,814 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.77% of Hexcel worth $42,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Hexcel by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock worth $163,000 after buying an additional 200 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Hexcel by 2.0% during the fourth quarter. Aperio Group LLC now owns 41,126 shares of the aerospace company’s stock valued at $2,544,000 after purchasing an additional 818 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Hexcel by 6.2% during the third quarter. Pacer Advisors Inc. now owns 14,481 shares of the aerospace company’s stock valued at $831,000 after purchasing an additional 844 shares during the period. Greenwood Capital Associates LLC boosted its stake in shares of Hexcel by 12.1% during the fourth quarter. Greenwood Capital Associates LLC now owns 8,599 shares of the aerospace company’s stock valued at $532,000 after purchasing an additional 929 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Hexcel by 1.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 94,892 shares of the aerospace company’s stock valued at $5,869,000 after purchasing an additional 946 shares during the period. 99.15% of the stock is owned by institutional investors and hedge funds.

Hexcel Co. (HXL) opened at $67.06 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.31 and a current ratio of 2.51. The company has a market capitalization of $6,118.28, a P/E ratio of 25.41, a P/E/G ratio of 2.63 and a beta of 1.20. Hexcel Co. has a twelve month low of $49.20 and a twelve month high of $69.27.

Hexcel (NYSE:HXL) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. The company had revenue of $511.70 million during the quarter, compared to the consensus estimate of $506.70 million. Hexcel had a return on equity of 17.86% and a net margin of 14.39%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. research analysts expect that Hexcel Co. will post 3.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.75%. Hexcel’s dividend payout ratio is presently 16.18%.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised Hexcel from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Canaccord Genuity increased their price objective on Hexcel from $64.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, January 26th. Stephens increased their price objective on Hexcel from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Loop Capital set a $64.00 price objective on Hexcel and gave the company a “hold” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $67.00 price objective (up previously from $60.00) on shares of Hexcel in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $64.78.

In related news, CEO Nick L. Stanage sold 27,174 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $64.01, for a total transaction of $1,739,407.74. Following the completion of the transaction, the chief executive officer now owns 181,637 shares in the company, valued at $11,626,584.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Timothy Swords sold 13,493 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $60.27, for a total value of $813,223.11. Following the transaction, the insider now owns 20,202 shares of the company’s stock, valued at approximately $1,217,574.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,667 shares of company stock valued at $5,678,201. 2.10% of the stock is owned by corporate insiders.

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Hexcel 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.

Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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