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ARK Investment Management LLC Has $289,000 Position in Hexcel Co. (NYSE:HXL)

Defense World · Sep 20, 2022 06:22

ARK Investment Management LLC lessened its holdings in Hexcel Co. (NYSE:HXL – Get Rating) by 19.2% during the second quarter, HoldingsChannel reports. The firm owned 5,026 shares of the aerospace company's stock after selling 1,198 shares during the quarter. ARK Investment Management LLC's holdings in Hexcel were worth $289,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Hexcel by 1.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,247 shares of the aerospace company's stock worth $1,026,000 after acquiring an additional 262 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Hexcel by 264.5% in the 4th quarter. Point72 Asset Management L.P. now owns 48,846 shares of the aerospace company's stock worth $2,530,000 after buying an additional 35,446 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Hexcel by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 589,849 shares of the aerospace company's stock worth $35,078,000 after purchasing an additional 6,481 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Hexcel by 23.8% in the 4th quarter. Alliancebernstein L.P. now owns 5,778,628 shares of the aerospace company's stock worth $299,333,000 after purchasing an additional 1,111,217 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in Hexcel during the 1st quarter valued at $1,859,000. Institutional investors and hedge funds own 97.56% of the company's stock.

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Hexcel Trading Up 2.4 %

Shares of Hexcel stock opened at $58.20 on Tuesday. The company's fifty day simple moving average is $59.57 and its 200-day simple moving average is $56.69. The stock has a market capitalization of $4.89 billion, a PE ratio of 54.39 and a beta of 1.25. Hexcel Co. has a 1-year low of $46.77 and a 1-year high of $65.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.55 and a quick ratio of 1.55.

Hexcel (NYSE:HXL – Get Rating) last issued its quarterly earnings results on Monday, July 25th. The aerospace company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $393.00 million for the quarter, compared to analysts' expectations of $391.89 million. Hexcel had a net margin of 6.12% and a return on equity of 4.79%. The company's revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. As a group, equities analysts anticipate that Hexcel Co. will post 1.2 earnings per share for the current year.

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, August 5th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. Hexcel's payout ratio is 37.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HXL. Vertical Research upped their price target on shares of Hexcel to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. BMO Capital Markets upped their price objective on shares of Hexcel from $57.00 to $66.00 and gave the company a "market perform" rating in a research note on Tuesday, August 2nd. Wells Fargo & Company increased their price target on shares of Hexcel to $63.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 27th. Morgan Stanley raised shares of Hexcel from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $59.00 to $68.00 in a research note on Thursday, September 8th. Finally, StockNews.com downgraded shares of Hexcel from a "buy" rating to a "hold" rating in a research note on Thursday, September 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $59.20.

Insider Activity

In other news, insider Thierry Merlot sold 2,500 shares of the firm's stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $60.83, for a total transaction of $152,075.00. Following the sale, the insider now directly owns 34,011 shares in the company, valued at approximately $2,068,889.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.55% of the company's stock.

Hexcel Company Profile

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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. It operates through 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 automotive, marine, and trains.