Bank of America Corp DE Has $198.67 Million Stock Position in Hexcel Co. (NYSE:HXL)

Bank of America Corp DE decreased its stake in Hexcel Co. (NYSE:HXL - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,168,520 shares of the aerospace company's stock after selling 129,072 shares during the period. Bank of America Corp DE owned approximately 3.91% of Hexcel worth $198,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Hexcel by 4,372.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,502,676 shares of the aerospace company's stock worth $156,919,000 after purchasing an additional 2,446,716 shares during the last quarter. Norges Bank bought a new stake in shares of Hexcel in the fourth quarter valued at about $60,241,000. Brandes Investment Partners LP grew its position in Hexcel by 99.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,304,669 shares of the aerospace company's stock worth $81,803,000 after buying an additional 651,062 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Hexcel by 249.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 815,658 shares of the aerospace company's stock valued at $51,142,000 after acquiring an additional 582,353 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in Hexcel by 1,153.9% in the 4th quarter. DAVENPORT & Co LLC now owns 535,962 shares of the aerospace company's stock valued at $33,546,000 after acquiring an additional 493,218 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial lowered their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on shares of Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. BMO Capital Markets decreased their target price on shares of Hexcel from $72.00 to $52.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 23rd. UBS Group dropped their price target on shares of Hexcel from $53.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, TD Cowen raised Hexcel to a "hold" rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.20.

Hexcel Price Performance

Shares of NYSE:HXL traded down $0.18 during trading on Friday, reaching $51.72. The stock had a trading volume of 1,022,369 shares, compared to its average volume of 953,475. The stock has a market capitalization of $4.16 billion, a PE ratio of 32.53, a P/E/G ratio of 1.72 and a beta of 1.28. Hexcel Co. has a 52 week low of $45.28 and a 52 week high of $73.24. The business's 50-day moving average price is $53.24 and its 200 day moving average price is $59.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.21 and a quick ratio of 1.20.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The aerospace company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). Hexcel had a return on equity of 10.66% and a net margin of 6.94%. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $482.18 million. During the same period in the prior year, the firm posted $0.44 EPS. As a group, equities analysts predict that Hexcel Co. will post 2.14 earnings per share for the current year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Friday, May 2nd. Hexcel's payout ratio is presently 45.03%.

Hexcel Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.