Truist Financial Corp Cuts Stake in Hexcel Co. (NYSE:HXL)

Truist Financial Corp lowered its position in shares of Hexcel Co. (NYSE:HXL) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,393 shares of the aerospace company’s stock after selling 5,237 shares during the period. Truist Financial Corp’s holdings in Hexcel were worth $5,560,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HXL. Massachusetts Financial Services Co. MA purchased a new position in shares of Hexcel during the third quarter valued at $39,213,000. Envestnet Asset Management Inc. increased its stake in shares of Hexcel by 102.3% during the third quarter. Envestnet Asset Management Inc. now owns 643,487 shares of the aerospace company’s stock valued at $41,917,000 after buying an additional 325,369 shares during the period. TimesSquare Capital Management LLC increased its stake in shares of Hexcel by 46.7% during the third quarter. TimesSquare Capital Management LLC now owns 778,775 shares of the aerospace company’s stock valued at $50,729,000 after buying an additional 248,045 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Hexcel by 18.8% during the third quarter. Westfield Capital Management Co. LP now owns 1,462,293 shares of the aerospace company’s stock valued at $95,254,000 after buying an additional 231,207 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Hexcel during the third quarter valued at about $12,188,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays dropped their price objective on Hexcel from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Northcoast Research downgraded Hexcel from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of Hexcel in a research report on Wednesday, February 21st. The Goldman Sachs Group raised their price objective on Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Truist Financial lowered their price target on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $76.57.

Hexcel Stock Up 0.4 %

Hexcel stock opened at $68.16 on Friday. The stock has a market capitalization of $5.66 billion, a PE ratio of 58.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25. Hexcel Co. has a 12 month low of $58.81 and a 12 month high of $79.08. The business has a 50 day simple moving average of $69.74 and a 200-day simple moving average of $69.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.51.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The business had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. Hexcel had a return on equity of 8.97% and a net margin of 5.52%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, analysts anticipate that Hexcel Co. will post 2.22 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, May 2nd. Hexcel’s dividend payout ratio is presently 51.28%.

Insider Transactions at Hexcel

In other news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tom Gentile purchased 15,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $66.25 per share, for a total transaction of $993,750.00. Following the completion of the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at $993,750. The disclosure for this purchase can be found here. Insiders have bought 43,000 shares of company stock valued at $2,792,990 over the last ninety days. Insiders own 1.39% of the company’s stock.

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.