M&T Bank Corp Sells 1,518 Shares of Hexcel Corporation (NYSE:HXL)

M&T Bank Corp cut its position in shares of Hexcel Corporation (NYSE:HXL) by 29.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,682 shares of the aerospace company’s stock after selling 1,518 shares during the quarter. M&T Bank Corp’s holdings in Hexcel were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. boosted its position in shares of Hexcel by 83.4% during the first quarter. Brown Advisory Inc. now owns 6,693 shares of the aerospace company’s stock valued at $367,000 after purchasing an additional 3,043 shares in the last quarter. Beverly Hills Private Wealth LLC boosted its position in shares of Hexcel by 4.0% during the first quarter. Beverly Hills Private Wealth LLC now owns 5,323 shares of the aerospace company’s stock valued at $291,000 after purchasing an additional 207 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Hexcel by 37.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,434 shares of the aerospace company’s stock valued at $462,000 after purchasing an additional 2,319 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Hexcel by 0.5% during the first quarter. Principal Financial Group Inc. now owns 186,680 shares of the aerospace company’s stock valued at $10,223,000 after purchasing an additional 937 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Hexcel during the first quarter valued at approximately $649,000. 95.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HXL has been the subject of a number of recent research reports. Truist Financial lowered their price objective on Hexcel from $73.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on Hexcel from $55.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Morgan Stanley lifted their price objective on Hexcel from $50.00 to $55.00 and gave the company an “underweight” rating in a research note on Thursday. UBS Group decreased their price target on Hexcel from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets decreased their price target on Hexcel from $72.00 to $52.00 and set a “market perform” rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Hexcel has a consensus rating of “Hold” and a consensus target price of $59.22.

Hexcel Stock Down 0.2%

Hexcel stock opened at $60.59 on Friday. The stock has a market cap of $4.87 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.28. 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 Corporation has a one year low of $45.28 and a one year high of $71.05. The stock has a fifty day moving average of $55.65 and a 200 day moving average of $57.70.

Hexcel (NYSE:HXL) last released 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). Hexcel had a net margin of 6.60% and a return on equity of 10.36%. The company had revenue of $456.50 million for the quarter, compared to the consensus estimate of $482.18 million. During the same period in the prior year, the firm posted $0.44 EPS. As a group, sell-side analysts predict that Hexcel Corporation will post 2.14 EPS for the current year.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, May 2nd. 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.