Bank of New York Mellon Corp Decreases Stock Position in Hexcel Corporation $HXL

Bank of New York Mellon Corp trimmed its position in shares of Hexcel Corporation (NYSE:HXL) by 2.5% in the first quarter, Holdings Channel.com reports. The firm owned 555,754 shares of the aerospace company’s stock after selling 14,531 shares during the period. Bank of New York Mellon Corp’s holdings in Hexcel were worth $44,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HXL. GHP Investment Advisors Inc. acquired a new position in Hexcel in the 1st quarter worth $28,000. Prosperity Bancshares Inc acquired a new stake in shares of Hexcel during the fourth quarter valued at about $36,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Hexcel during the first quarter worth about $37,000. Transamerica Financial Advisors LLC increased its stake in shares of Hexcel by 181.1% in the fourth quarter. Transamerica Financial Advisors LLC now owns 506 shares of the aerospace company’s stock worth $37,000 after buying an additional 326 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in Hexcel in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Hexcel Price Performance

Shares of NYSE HXL opened at $110.15 on Friday. The firm has a 50-day moving average of $96.20 and a two-hundred day moving average of $89.33. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 72.47, a PEG ratio of 1.68 and a beta of 1.05. The company has a current ratio of 2.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.79. Hexcel Corporation has a twelve month low of $58.20 and a twelve month high of $111.01.

Hexcel (NYSE:HXL) last released its earnings results on Wednesday, April 22nd. The aerospace company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.17. Hexcel had a net margin of 6.07% and a return on equity of 11.08%. The business had revenue of $501.50 million for the quarter, compared to the consensus estimate of $488.11 million. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts expect that Hexcel Corporation will post 2.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HXL has been the topic of several research reports. Wells Fargo & Company started coverage on Hexcel in a research note on Wednesday, April 1st. They set an “overweight” rating and a $95.00 price objective on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $105.00 target price on shares of Hexcel in a research report on Friday, April 24th. TD Cowen boosted their price target on Hexcel from $85.00 to $100.00 and gave the company a “hold” rating in a report on Monday, July 13th. BMO Capital Markets upped their price target on Hexcel from $85.00 to $97.00 and gave the company a “market perform” rating in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $79.00 price objective on shares of Hexcel in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Hexcel Company Profile

Hexcel Corporation is a global leader in advanced composite materials for aerospace and industrial applications. The company specializes in the development and manufacture of lightweight, high-performance products that enhance fuel efficiency, durability and structural strength. Its offerings are critical to the aerospace sector, where demand for lighter, more efficient aircraft drives continuous innovation in materials.

Hexcel’s product portfolio encompasses carbon fiber reinforcements, pre-impregnated composites (prepregs), honeycomb core, engineered adhesives and structural film adhesives.