Bank of New York Mellon Corp Sells 7,714 Shares of Hexcel Corporation (NYSE:HXL)

Bank of New York Mellon Corp trimmed its holdings in Hexcel Corporation (NYSE:HXL - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 744,167 shares of the aerospace company's stock after selling 7,714 shares during the quarter. Bank of New York Mellon Corp owned 0.93% of Hexcel worth $40,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of Hexcel in the first quarter worth approximately $61,000. Parvin Asset Management LLC purchased a new stake in shares of Hexcel in the fourth quarter worth approximately $66,000. Farther Finance Advisors LLC lifted its position in shares of Hexcel by 71.2% in the first quarter. Farther Finance Advisors LLC now owns 1,200 shares of the aerospace company's stock worth $66,000 after purchasing an additional 499 shares in the last quarter. Huntington National Bank lifted its position in shares of Hexcel by 21.4% in the fourth quarter. Huntington National Bank now owns 1,159 shares of the aerospace company's stock worth $73,000 after purchasing an additional 204 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Hexcel by 61.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,272 shares of the aerospace company's stock worth $80,000 after purchasing an additional 486 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HXL. Truist Financial dropped their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on 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 dropped their price objective on Hexcel from $72.00 to $52.00 and set a "market perform" rating on the stock in a report on Wednesday, April 23rd. UBS Group lowered their price target on Hexcel from $53.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays lowered their price target on Hexcel from $75.00 to $68.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $59.22.

Hexcel Stock Performance

Shares of Hexcel stock traded down $0.56 during midday trading on Friday, hitting $60.15. The company had a trading volume of 325,325 shares, compared to its average volume of 996,869. The business's 50 day simple moving average is $55.47 and its two-hundred day simple moving average is $57.71. The stock has a market cap of $4.84 billion, a PE ratio of 39.84, a P/E/G ratio of 1.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.39. Hexcel Corporation has a 1-year low of $45.28 and a 1-year high of $71.05.

Hexcel (NYSE:HXL - Get Free Report) last issued its earnings results on Monday, April 21st. The aerospace company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.06). The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $482.18 million. Hexcel had a return on equity of 10.36% and a net margin of 6.60%. During the same period last year, the business earned $0.44 earnings per share. As a group, equities analysts predict that Hexcel Corporation will post 2.14 EPS for the current fiscal 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 issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. Hexcel's payout ratio is presently 45.03%.

Hexcel Company 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.