Jennison Associates LLC Has $99.47 Million Position in Hexcel Co. (NYSE:HXL)

Jennison Associates LLC lowered its holdings in Hexcel Co. (NYSE:HXL) by 11.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,229,840 shares of the aerospace company’s stock after selling 158,307 shares during the quarter. Jennison Associates LLC’s holdings in Hexcel were worth $99,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation N.A. bought a new position in Hexcel during the 1st quarter valued at $45,000. Steward Partners Investment Advisory LLC bought a new position in Hexcel during the 2nd quarter valued at $54,000. Machina Capital S.A.S. lifted its stake in Hexcel by 22.4% during the 2nd quarter. Machina Capital S.A.S. now owns 743 shares of the aerospace company’s stock valued at $60,000 after acquiring an additional 136 shares in the last quarter. Pennsylvania Trust Co bought a new position in Hexcel during the 1st quarter valued at $255,000. Finally, Manchester Capital Management LLC bought a new position in Hexcel during the 1st quarter valued at $68,000. 93.67% of the stock is owned by institutional investors and hedge funds.

In related news, insider Kimberly A. Hendricks sold 3,500 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $76.00, for a total value of $266,000.00. Following the sale, the insider now directly owns 30,843 shares in the company, valued at approximately $2,344,068. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Raymond Schneider sold 4,417 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $81.61, for a total value of $360,471.37. Following the completion of the sale, the insider now owns 10,201 shares in the company, valued at $832,503.61. The disclosure for this sale can be found here. Insiders have sold a total of 14,017 shares of company stock worth $1,076,102 over the last quarter. Company insiders own 1.40% of the company’s stock.

HXL has been the topic of several recent analyst reports. Canaccord Genuity raised their price objective on Hexcel from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group upgraded Hexcel from a “sell” rating to a “neutral” rating and raised their price objective for the company from $67.00 to $76.00 in a research note on Thursday, May 23rd. Goldman Sachs Group cut Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research note on Friday, August 16th. ValuEngine cut Hexcel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research cut Hexcel from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Hexcel has an average rating of “Hold” and an average target price of $81.05.

Shares of NYSE HXL traded down $1.80 during mid-day trading on Friday, reaching $80.12. 476,827 shares of the company’s stock were exchanged, compared to its average volume of 452,324. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. Hexcel Co. has a 52 week low of $53.50 and a 52 week high of $85.63. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.22 and a quick ratio of 1.28. The firm has a 50-day moving average price of $81.08 and a two-hundred day moving average price of $74.29.

Hexcel (NYSE:HXL) last released its earnings results on Monday, July 22nd. The aerospace company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The company had revenue of $609.00 million for the quarter, compared to analysts’ expectations of $606.03 million. Hexcel had a return on equity of 21.45% and a net margin of 12.90%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. As a group, sell-side analysts forecast that Hexcel Co. will post 3.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.85%. This is a boost from Hexcel’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, August 1st. Hexcel’s payout ratio is presently 22.30%.

Hexcel Profile

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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Institutional Ownership by Quarter for Hexcel (NYSE:HXL)

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