Earnest Partners Lowers stake in Hexcel Corporation (HXL)

Hexcel Corporation (HXL) : Earnest Partners reduced its stake in Hexcel Corporation by 4.82% during the most recent quarter end. The investment management company now holds a total of 3,194,391 shares of Hexcel Corporation which is valued at $142,214,287 after selling 161,919 shares in Hexcel Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Hexcel Corporation makes up approximately 1.38% of Earnest Partners’s portfolio.

Other Hedge Funds, Including , Fred Alger Management Inc reduced its stake in HXL by selling 246,534 shares or 51.35% in the most recent quarter. The Hedge Fund company now holds 233,593 shares of HXL which is valued at $10,399,560. Hexcel Corporation makes up approx 0.05% of Fred Alger Management Inc’s portfolio.Raymond James Associates reduced its stake in HXL by selling 5,337 shares or 24.97% in the most recent quarter. The Hedge Fund company now holds 16,034 shares of HXL which is valued at $713,834.Sfe Investment Counsel reduced its stake in HXL by selling 100 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 7,915 shares of HXL which is valued at $348,181. Hexcel Corporation makes up approx 0.16% of Sfe Investment Counsel’s portfolio.Boston Private Wealth reduced its stake in HXL by selling 2,804 shares or 13.5% in the most recent quarter. The Hedge Fund company now holds 17,960 shares of HXL which is valued at $790,060. Hexcel Corporation makes up approx 0.03% of Boston Private Wealth’s portfolio.

Hexcel Corporation closed down -0.01 points or -0.02% at $44.84 with 4,20,046 shares getting traded on Thursday. Post opening the session at $44.76, the shares hit an intraday low of $44.19 and an intraday high of $44.92 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Hexcel Corporation reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.64. The company had revenue of $522.60 million for the quarter, compared to analysts expectations of $503.98 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Hexcel Corporation. Hexcel Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jul 29, 2016.

Hexcel Corporation (Hexcel) 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 composite structures for use in commercial aerospace space and defense and industrial markets. The Company 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. The Engineered Products segment manufactures and markets composite structures and precision machined honeycomb parts for use in the aerospace industry.

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