Hexcel Corporation $HXL Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management cut its Hexcel stake by 30.4% in the third quarter, selling 13,118 shares and retaining 30,072 shares valued at approximately $2.52 million. Institutional investors collectively own 95.47% of Hexcel.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $101.67. Recent actions included price-target reductions from UBS and Wells Fargo, alongside upgrades from Seaport Research Partners and a new “Buy” rating from Guggenheim.
• Hexcel reported quarterly EPS of $0.50, slightly above estimates, while revenue of $496.4 million fell short of forecasts but increased 8.8% year over year. The company also declared a quarterly dividend of $0.18 per share, implying a 0.9% annual yield.

Apollon Wealth Management LLC reduced its holdings in shares of Hexcel Corporation (NYSE:HXL - Free Report) by 30.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,072 shares of the aerospace company's stock after selling 13,118 shares during the quarter. Apollon Wealth Management LLC's holdings in Hexcel were worth $2,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Hexcel in the 2nd quarter worth about $1,422,742,000. Bank of America Corp DE purchased a new position in Hexcel during the 2nd quarter valued at about $216,948,000. Bank of New York Mellon Corp purchased a new position in Hexcel during the 2nd quarter valued at about $51,460,000. The Manufacturers Life Insurance Company purchased a new position in Hexcel during the 2nd quarter valued at about $39,649,000. Finally, Grandfield & Dodd LLC bought a new stake in shares of Hexcel during the second quarter valued at about $32,711,000. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group cut their price objective on shares of Hexcel from $123.00 to $117.00 and set a "buy" rating for the company in a research report on Friday, October 23rd. TD Cowen reaffirmed a "hold" rating on shares of Hexcel in a report on Wednesday. Guggenheim assumed coverage on shares of Hexcel in a research note on Monday, September 14th. They issued a "buy" rating and a $120.00 target price on the stock. Seaport Research Partners upgraded shares of Hexcel from a "neutral" rating to a "buy" rating and set a $104.00 target price on the stock in a research note on Sunday, October 11th. Finally, Wells Fargo & Company cut their price target on shares of Hexcel from $120.00 to $105.00 and set an "overweight" rating for the company in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.67.

Insider Activity at Hexcel

In other Hexcel news, insider Gail Lehman sold 13,829 shares of Hexcel stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $92.10, for a total transaction of $1,273,650.90. Following the transaction, the insider directly owned 20,148 shares of the company's stock, valued at approximately $1,855,630.80. This trade represents a 40.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gina Fitzsimons sold 9,675 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $103.14, for a total transaction of $997,879.50. Following the completion of the sale, the insider owned 7,712 shares of the company's stock, valued at approximately $795,415.68. The trade was a 55.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.84% of the company's stock.

Hexcel Trading Down 1.3%

Shares of Hexcel stock opened at $77.88 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.57 and a quick ratio of 1.42. Hexcel Corporation has a 1 year low of $67.38 and a 1 year high of $111.74. The firm has a market cap of $5.90 billion, a PE ratio of 34.92, a PEG ratio of 1.09 and a beta of 1.10. The company has a 50 day simple moving average of $88.45 and a two-hundred day simple moving average of $90.56.

Hexcel (NYSE:HXL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The aerospace company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. Hexcel had a net margin of 8.50% and a return on equity of 13.57%. The firm had revenue of $496.40 million for the quarter, compared to analyst estimates of $501.95 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts expect that Hexcel Corporation will post 2.36 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, November 2nd. Hexcel's dividend payout ratio (DPR) is presently 32.29%.

Hexcel Company Profile

Hexcel Corporation is an advanced materials company that develops and manufactures lightweight, high-performance composite materials and structural components. Its products are designed to improve strength, durability, fuel efficiency, and performance across demanding applications.

The company's portfolio includes carbon fiber, fiberglass, specialty reinforcements, prepregs, adhesives, honeycomb materials, engineered core products, and composite structures. These materials and components are used in commercial aircraft, military and space systems, helicopters, wind turbine blades, and various industrial applications.

Hexcel serves customers worldwide through manufacturing, research, and distribution operations in North America, Europe, Asia, and other international markets.

Want to see what other hedge funds are holding HXL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hexcel Corporation (NYSE:HXL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.