Hexcel Corporation $HXL Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its Hexcel stake by 2.5% in the first quarter, selling 14,531 shares and ending with 555,754 shares valued at about $45 million.
• Despite that reduction, institutional ownership remains high: hedge funds and other institutions own 95.47% of Hexcel stock, and several other investors also increased their positions.
• Analysts are mixed on Hexcel, with the stock carrying an average “Hold” rating and a consensus price target of $94, while the shares recently traded around $110 after the company beat quarterly earnings and revenue estimates.

Bank of New York Mellon Corp lowered its holdings in Hexcel Corporation (NYSE:HXL - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 555,754 shares of the aerospace company's stock after selling 14,531 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of Hexcel worth $44,977,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in Hexcel by 2.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,340 shares of the aerospace company's stock worth $432,000 after purchasing an additional 119 shares during the period. Clearstead Advisors LLC grew its position in shares of Hexcel by 18.2% during the 4th quarter. Clearstead Advisors LLC now owns 817 shares of the aerospace company's stock valued at $60,000 after acquiring an additional 126 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Hexcel by 1.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,928 shares of the aerospace company's stock valued at $881,000 after purchasing an additional 128 shares in the last quarter. Allworth Financial LP increased its stake in shares of Hexcel by 14.5% in the 3rd quarter. Allworth Financial LP now owns 1,135 shares of the aerospace company's stock valued at $71,000 after purchasing an additional 144 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Hexcel by 21.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 924 shares of the aerospace company's stock worth $52,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Hexcel from $85.00 to $97.00 and gave the company a "market perform" rating in a report on Friday, April 24th. Royal Bank Of Canada restated an "outperform" rating and set a $105.00 price target on shares of Hexcel in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $79.00 price target on shares of Hexcel in a research report on Friday, April 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hexcel in a research report on Friday, July 17th. Finally, TD Cowen boosted their price target on shares of Hexcel from $85.00 to $100.00 and gave the company a "hold" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $94.00.

Hexcel Stock Performance

Shares of NYSE HXL opened at $110.15 on Friday. The company has a market cap of $8.31 billion, a PE ratio of 72.47, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. Hexcel Corporation has a 12 month low of $58.20 and a 12 month high of $111.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.45 and a quick ratio of 1.37. The company has a 50-day simple moving average of $96.20 and a 200-day simple moving average of $89.33.

Hexcel (NYSE:HXL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The aerospace company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.17. The business had revenue of $501.50 million for the quarter, compared to analyst estimates of $488.11 million. Hexcel had a return on equity of 11.08% and a net margin of 6.07%.The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, equities analysts anticipate that Hexcel Corporation will post 2.26 earnings per share for the current year.

About Hexcel

Hexcel Corporation is a global leader in advanced composite materials for aerospace and industrial applications. The company specializes in the development and manufacture of lightweight, high-performance products that enhance fuel efficiency, durability and structural strength. Its offerings are critical to the aerospace sector, where demand for lighter, more efficient aircraft drives continuous innovation in materials.

Hexcel's product portfolio encompasses carbon fiber reinforcements, pre-impregnated composites (prepregs), honeycomb core, engineered adhesives and structural film adhesives.

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