Truist Financial Corp Cuts Position in Hexcel Corporation $HXL

Truist Financial Corp decreased its position in Hexcel Corporation (NYSE:HXL - Free Report) by 74.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,762 shares of the aerospace company's stock after selling 28,339 shares during the quarter. Truist Financial Corp's holdings in Hexcel were worth $551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Place Capital Corp raised its position in Hexcel by 65.1% in the second quarter. Park Place Capital Corp now owns 497 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 196 shares during the period. Geneos Wealth Management Inc. raised its position in Hexcel by 138.7% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the aerospace company's stock valued at $42,000 after purchasing an additional 441 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Hexcel in the second quarter worth $55,000. Brooklyn Investment Group grew its stake in shares of Hexcel by 320.2% in the first quarter. Brooklyn Investment Group now owns 1,164 shares of the aerospace company's stock worth $64,000 after acquiring an additional 887 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 acquiring an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Insiders Place Their Bets

In related news, insider Thierry Merlot sold 8,897 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $63.86, for a total value of $568,162.42. Following the completion of the sale, the insider directly owned 51,308 shares of the company's stock, valued at $3,276,528.88. The trade was a 14.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gina Fitzsimons sold 911 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $65.00, for a total transaction of $59,215.00. Following the completion of the sale, the insider directly owned 4,283 shares of the company's stock, valued at approximately $278,395. This trade represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by insiders.

Hexcel Stock Performance

Shares of HXL stock opened at $62.42 on Thursday. Hexcel Corporation has a 12 month low of $45.28 and a 12 month high of $71.05. The company has a market cap of $4.97 billion, a P/E ratio of 57.79, a PEG ratio of 1.97 and a beta of 1.33. The company has a current ratio of 2.69, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average price of $62.84 and a 200 day moving average price of $57.57.

Hexcel (NYSE:HXL - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.04. Hexcel had a net margin of 4.69% and a return on equity of 9.76%. The firm had revenue of $489.90 million during the quarter, compared to analysts' expectations of $482.20 million. During the same period in the previous year, the company earned $0.60 earnings per share. Hexcel's quarterly revenue was down 2.1% compared to the same quarter last year. Hexcel has set its FY 2025 guidance at 1.850-2.050 EPS. Sell-side analysts predict that Hexcel Corporation will post 2.14 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 8th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Hexcel's payout ratio is 62.96%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HXL. Zacks Research upgraded shares of Hexcel from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $65.00 price target on shares of Hexcel in a research note on Wednesday, October 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $70.00 price target (up previously from $65.00) on shares of Hexcel in a research note on Monday, July 28th. Morgan Stanley boosted their price target on shares of Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Finally, UBS Group upgraded shares of Hexcel from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $80.00 in a research note on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $66.63.

About Hexcel

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.

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