Joho Capital Lowers stake in Hexcel Corporation (HXL)

Hexcel Corporation (HXL) : Joho Capital reduced its stake in Hexcel Corporation by 64.72% during the most recent quarter end. The investment management company now holds a total of 386,283 shares of Hexcel Corporation which is valued at $17,197,319 after selling 708,496 shares in Hexcel Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Hexcel Corporation makes up approximately 3.97% of Joho Capital’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md boosted its stake in HXL in the latest quarter, The investment management firm added 8,189 additional shares and now holds a total of 1,712,859 shares of Hexcel Corporation which is valued at $76,256,483. Hexcel Corporation makes up approx 0.02% of Price T Rowe Associates Inc Md’s portfolio.Assetmark Inc boosted its stake in HXL in the latest quarter, The investment management firm added 268 additional shares and now holds a total of 1,148 shares of Hexcel Corporation which is valued at $50,765. Fuller Thaler Asset Management added HXL to its portfolio by purchasing 2,600 company shares during the most recent quarter which is valued at $115,388.Kornitzer Capital Management Inc Ks reduced its stake in HXL by selling 176,170 shares or 23.32% in the most recent quarter. The Hedge Fund company now holds 579,184 shares of HXL which is valued at $25,003,373. Hexcel Corporation makes up approx 0.45% of Kornitzer Capital Management Inc Ks’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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