Eagle Asset Management Inc Lowers stake in Hexcel Corporation (HXL)

Hexcel Corporation (HXL) : Eagle Asset Management Inc reduced its stake in Hexcel Corporation by 1.72% during the most recent quarter end. The investment management company now holds a total of 2,046,727 shares of Hexcel Corporation which is valued at $86,904,028 after selling 35,865 shares in Hexcel Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Hexcel Corporation makes up approximately 0.60% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in HXL in the latest quarter, The investment management firm added 298 additional shares and now holds a total of 1,198 shares of Hexcel Corporation which is valued at $50,867. Advisory Services Network added HXL to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $1,476.Bnp Paribas Arbitrage Sa boosted its stake in HXL in the latest quarter, The investment management firm added 1,358 additional shares and now holds a total of 1,411 shares of Hexcel Corporation which is valued at $63,199.Washington Trust Bank boosted its stake in HXL in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 338 shares of Hexcel Corporation which is valued at $15,139.

Hexcel Corporation closed down -1.04 points or -2.39% at $42.46 with 6,64,294 shares getting traded on Tuesday. Post opening the session at $43.28, the shares hit an intraday low of $42.1 and an intraday high of $43.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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