HXL Hexcel Corp (new)

Hexcel Corp. engages in the development, manufacture, and market of advanced composite materials for the commercial aerospace, space and defense, and industrial markets. It operates through the following segments: Composite Materials; Engineered Products; and Corporate and Other. The Composite Materials segment comprises of carbon fiber, specialty reinforcements, resins, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles. The Engineered Products segment consists of lightweight high strength composite structures, engineered core and honeycomb products with added functionality, and additive manufacturing. The company was founded by Roger C. Steele and Roscoe T. Hughes in 1946 and is headquartered in Stamford, CT.

Company profile

Ticker

HXL

Exchange

NYSE

Website

www.hexcel.com

CEO

Nick L. Stanage

Incorporated in

Delaware

Location

Connecticut

Fiscal year end

Dec 31

Sector

Process Industries > Aerospace & Defense

Industry (SEC)

Plastic Materials, Synth Resins & Nonvulcan Elastomers

DuPont de Nemours • Dow • Eastman Chemical • Trinseo • Dow Chemical • Hexion • Albemarle • Kraton • AdvanSix • Polyone ...

SEC CIK

0000717605

Corporate docs

Articles of Incorporation & Bylaws

IRS number

941109521

HXL stock data

S&P 500

1M 1Y 2Y 5Y

Calendar

20 Apr 20

14 Jul 20

31 Dec 20

News

Company financial data Financial data

Chart HXL financial data

Quarter (USD)	Mar 20	Dec 19	Sep 19	Jun 19
Revenue	541M	564.3M	572.5M	609M
Net income	42.4M	73.2M	80.3M	80.9M
Diluted EPS		0.86	0.93	0.94
Net profit margin	7.84%	12.97%	14.03%	13.28%
Operating income	65.7M	97.4M	109.9M	115.1M
Net change in cash	264.9M	17.4M	-8.4M	11.7M
Cash on hand	329.3M	64.4M	47M	55.4M
Cost of revenue	400.1M	417.8M	414.6M	440.2M

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	2.36B	2.19B	1.97B	2B
Net income	306.6M	276.6M	284M	249.8M
Diluted EPS
Net profit margin	13.02%	12.64%	14.39%	12.46%
Operating income	425.2M	371.2M	350.6M	360.1M
Net change in cash	31.7M	-27.4M	24.9M	-16.6M
Cash on hand	64.4M	32.7M	60.1M	35.2M
Cost of revenue	1.72B	1.61B	1.42B	1.44B

Financial data from Hexcel earnings reports

Recent insider trades

HXL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	#Shares	#Remaining
10 Jul 20	Suever Catherine A	RSU Common Stock	Grant	Aquire A	No	212	212
10 Jul 20	Beckman Joel S	RSU Common Stock	Grant	Aquire A	No	212	212
10 Jul 20	Graves Jeffrey A	RSU Common Stock	Grant	Aquire A	No	212	212
1 Jun 20	Beckman Joel S	RSU Common Stock	Grant	Aquire A	No	3,262	3,262
1 Jun 20	Campbell Jeffrey C	RSU Common Stock	Grant	Aquire A	No	3,262	3,262

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

HXL institutional ownership history Ownership history

95.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	379	449	-15.6%
Opened positions	63	72	-12.5%
Closed positions	133	61	+118.0%
Increased positions	119	143	-16.8%
Reduced positions	144	166	-13.3%

13F shares	Current	Prev Q	Change
Total value	83.83B	203.58B	-58.8%
Total shares	79.78M	83.16M	-4.1%
Total puts	18.3K	76.2K	-76.0%
Total calls	10.4K	57.8K	-82.0%
Total put/call ratio	1.8	1.3	+33.5%

Largest owners	Shares	Value	Change
Vanguard	7.63M	$283.64M	+1.6%
BLK BlackRock	4.96M	$184.49M	-17.7%
Atlanta Capital Management Co L L C	3.88M	$144.16M	+105.3%
Earnest Partners	2.94M	$109.51M	+2.1%
Cooke & Bieler	2.5M	$93.02M	+41.3%
Eaton Vance Management	2.41M	$89.36M	+28.8%
STT State Street	2.35M	$87.56M	-2.8%
Eagle Capital Management	2.11M	$78.39M	NEW
Eagle Asset Management	2.01M	$74.89M	-14.4%
BAC Bank of America	1.92M	$71.54M	-11.6%

Largest transactions	Shares	Bought/sold	Change
Alliancebernstein	557.59K	-2.69M	-82.8%
Epoch Investment Partners	44.61K	-2.3M	-98.1%
Eagle Capital Management	2.11M	+2.11M	NEW
Atlanta Capital Management Co L L C	3.88M	+1.99M	+105.3%
Capital Research Global Investors	1.48M	+1.48M	NEW
Norges Bank	0	-1.12M	EXIT
BLK BlackRock	4.96M	-1.06M	-17.7%
TimesSquare Capital Management	0	-1.03M	EXIT
Victory Capital Management	48.34K	-965.64K	-95.2%
WFC^Z Wells Fargo & Company	1.71M	+856.28K	+99.8%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Risks

The markets in which we operate can be cyclical, and downturns in them may adversely affect the results of our operations.
A significant decline in business with Airbus, Boeing, Vestas, or other large customers could materially impact our business, operating results, prospects and financial condition.
A decrease in supply, interruptions at key facilities or an increase in cost of raw materials could result in a material decline in our profitability.
Reductions in space and defense spending could result in a decline in our net sales.
If we are unable to develop new products on a timely basis, it could adversely affect our business and prospects.
We have substantial international operations subject to uncertainties which could affect our operating results.
Our business and operations may be adversely affected by cybersecurity breaches or other information technology system or network intrusions.
We could be adversely affected by environmental and safety requirements.
Hexcel may fail to realize all of the anticipated benefits of the merger, or those benefits may take longer to realize than expected. Hexcel may also encounter significant difficulties in integrating with Woodward.
While the merger is pending, Hexcel will be subject to business uncertainties and contractual restrictions that could adversely affect its business and operations.
Hexcel is expected to incur substantial expenses related to the merger and the integration with Woodward.

Management Discussion

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
We develop, manufacture, and market lightweight, high-performance structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, radio frequency / electromagnetic interference (“RF/EMI”) and microwave absorbing materials, engineered honeycomb and composite structures, for use in Commercial Aerospace, Space & Defense and Industrial markets. Our products are used in a wide variety of end applications, such as commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, automotive, recreational products and other industrial applications.
We serve international markets through manufacturing facilities, sales offices and representatives located in the Americas, Asia Pacific, Europe, Russia, India and Africa. We are also a partner in a joint venture in Malaysia, which manufactures composite structures for Commercial Aerospace applications.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

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From filing 10-Q 2020 Q1