Hexcel Corporation (NYSE:HXL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in Hexcel Corporation (NYSE:HXL) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 744,167 shares of the aerospace company’s stock after selling 7,714 shares during the period. Bank of New York Mellon Corp owned approximately 0.93% of Hexcel worth $40,751,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. NBC Securities Inc. acquired a new stake in Hexcel in the 1st quarter valued at $61,000. Parvin Asset Management LLC acquired a new position in shares of Hexcel during the 4th quarter valued at $66,000. Farther Finance Advisors LLC grew its holdings in shares of Hexcel by 71.2% in the 1st 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 during the last quarter. Huntington National Bank lifted its holdings 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 valued at $73,000 after purchasing an additional 204 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake 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 acquiring an additional 486 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HXL shares. BMO Capital Markets decreased their price target on shares of Hexcel from $72.00 to $52.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 23rd. Barclays decreased their price objective on Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Wall Street Zen downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a report on Sunday, April 27th. Wells Fargo & Company lowered their price objective on shares of Hexcel from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada decreased their price target on shares of Hexcel from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. One 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $58.67.

Hexcel Price Performance

Hexcel stock opened at $59.27 on Tuesday. Hexcel Corporation has a 52-week low of $45.28 and a 52-week high of $71.05. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 1.98 and a beta of 1.28. The stock’s 50 day moving average price is $54.78 and its two-hundred day moving average price is $57.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 2.59.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, April 21st. The aerospace company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.06). The business had revenue of $456.50 million during the quarter, compared to the consensus estimate of $482.18 million. Hexcel had a net margin of 6.60% and a return on equity of 10.36%. During the same period last year, the firm earned $0.44 EPS. On average, equities analysts predict that Hexcel Corporation will post 2.14 earnings per share for the current year.

Hexcel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, May 2nd. Hexcel’s dividend payout ratio (DPR) 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.