Hexcel Corporation (NYSE:HXL) Shares Sold by Jackson Square Partners LLC

Key Points

• Jackson Square Partners LLC reduced its stake in Hexcel Corporation by 9.4% during the first quarter, now owning 302,148 shares worth approximately $16.5 million.
• Hexcel has recently faced fluctuations in analyst ratings, with a consensus rating of "Hold" and an average target price of $63.33.
• The company reported a quarterly earnings per share of $0.50, beating estimates, but showed a 2.1% decline in revenue compared to the same quarter last year.

Jackson Square Partners LLC trimmed its stake in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,148 shares of the aerospace company's stock after selling 31,520 shares during the period. Hexcel comprises about 2.2% of Jackson Square Partners LLC's holdings, making the stock its 23rd biggest holding. Jackson Square Partners LLC owned 0.38% of Hexcel worth $16,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new stake in Hexcel during the fourth quarter worth $66,000. NBC Securities Inc. bought a new position in Hexcel during the first quarter valued at $61,000. Farther Finance Advisors LLC raised its holdings in Hexcel by 71.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock valued at $66,000 after acquiring an additional 499 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of Hexcel by 250.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,948 shares of the aerospace company's stock worth $122,000 after purchasing an additional 1,392 shares during the period. Finally, GAMMA Investing LLC grew its position in Hexcel by 95.3% in the first quarter. GAMMA Investing LLC now owns 2,306 shares of the aerospace company's stock worth $126,000 after acquiring an additional 1,125 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Hexcel Stock Down 0.0%

Hexcel stock traded down $0.02 on Monday, hitting $60.30. 348,240 shares of the stock traded hands, compared to its average volume of 1,196,090. The company has a current ratio of 2.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53. The firm has a market cap of $4.80 billion, a P/E ratio of 55.83, a price-to-earnings-growth ratio of 2.00 and a beta of 1.36. The business's fifty day simple moving average is $58.04 and its 200 day simple moving average is $57.09. Hexcel Corporation has a 1 year low of $45.28 and a 1 year high of $71.05.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The aerospace company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.04. The company had revenue of $489.90 million for the quarter, compared to analysts' expectations of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%. The firm's revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts forecast that Hexcel Corporation will post 2.14 earnings per share for the current year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 8th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 8th. Hexcel's dividend payout ratio is 62.96%.

Analyst Upgrades and Downgrades

HXL has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. BMO Capital Markets increased their price objective on shares of Hexcel from $52.00 to $67.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered shares of Hexcel from a "buy" rating to a "hold" rating in a research report on Sunday, April 27th. Royal Bank Of Canada reiterated an "outperform" rating and set a $70.00 price objective (up from $65.00) on shares of Hexcel in a research note on Monday, July 28th. Finally, Wells Fargo & Company lowered their target price on shares of Hexcel from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $63.33.

About Hexcel

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.