David Pugh, Director at Hexcel Corporation (NYSE:HXL), bought 27,000 shares of Common Stock, directly, yesterday, paying a weighted average price of $37.13 per share. Following the insider’s first stock acquisition since 2011, he now owns 32,000 shares of the $3.6 billion market cap composites firm.
Insiders at Hexcel Corporation have been relatively active this quarter, selling and purchasing stock. Company Director Thomas Gendron bought 8,293 shares of Common Stock, directly, at the beginning of June, paying prices ranging between $40.96 and $41.00 per share. Michael Macintyre, Treasurer at the firm, on the other hand completed a stock disposition last Wednesday, where he unloaded 3,150 shares of Common Stock for a price of $38.67 per share.
However, while insiders have been tending towards stock purchases this quarter, Q1 showed a different picture amongst hedge funds with several decreases in the company’s portfolio participation. Robert Karr’s Joho Capital, for example, decreased its stakes in Hexcel by 60% last quarter, and now owns 554,506 shares, with an estimated value of $24.1 million.