Bank of New York Mellon Corp Has $39.50 Million Stock Position in Hexcel Corporation $HXL

Bank of New York Mellon Corp lowered its position in Hexcel Corporation (NYSE:HXL) by 6.0% in the second quarter, Holdings Channel.com reports. The fund owned 699,291 shares of the aerospace company’s stock after selling 44,876 shares during the period. Bank of New York Mellon Corp’s holdings in Hexcel were worth $39,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of HXL. Teacher Retirement System of Texas bought a new position in Hexcel in the first quarter worth $649,000. Brown Advisory Inc. raised its stake in shares of Hexcel by 83.4% in the 1st quarter. Brown Advisory Inc. now owns 6,693 shares of the aerospace company’s stock valued at $367,000 after buying an additional 3,043 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hexcel by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,013,875 shares of the aerospace company’s stock worth $110,280,000 after acquiring an additional 17,512 shares during the period. Victory Capital Management Inc. boosted its position in shares of Hexcel by 13.9% during the 1st quarter. Victory Capital Management Inc. now owns 17,531 shares of the aerospace company’s stock valued at $960,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Hexcel by 10,767.3% during the 1st quarter. Jennison Associates LLC now owns 392,091 shares of the aerospace company’s stock valued at $21,471,000 after acquiring an additional 388,483 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

Insider Transactions at Hexcel

In other news, EVP Patrick Winterlich sold 3,413 shares of Hexcel stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $73.34, for a total value of $250,309.42. Following the completion of the sale, the executive vice president directly owned 40,357 shares of the company’s stock, valued at approximately $2,959,782.38. This trade represents a 7.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lyndon John Smith sold 2,077 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $73.02, for a total value of $151,662.54. Following the sale, the insider owned 8,426 shares of the company’s stock, valued at approximately $615,266.52. The trade was a 19.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,298 shares of company stock valued at $1,029,349 over the last 90 days. 1.39% of the stock is currently owned by corporate insiders.

Hexcel Stock Down 0.1%

Shares of NYSE HXL opened at $68.73 on Thursday. Hexcel Corporation has a 12-month low of $45.28 and a 12-month high of $74.35. The firm’s 50-day simple moving average is $65.33 and its 200 day simple moving average is $60.10. The company has a quick ratio of 1.50, a current ratio of 2.75 and a debt-to-equity ratio of 0.48. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 80.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.35.

Hexcel (NYSE:HXL) last announced its earnings results on Wednesday, October 22nd. The aerospace company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Hexcel had a return on equity of 9.25% and a net margin of 3.67%.The company had revenue of $456.20 million during the quarter, compared to the consensus estimate of $449.99 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Hexcel has set its FY 2025 guidance at 1.700-1.800 EPS. On average, research analysts expect that Hexcel Corporation will post 2.14 earnings per share for the current fiscal year.

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.68 annualized dividend and a yield of 1.0%. Hexcel’s dividend payout ratio is currently 80.00%.

Wall Street Analyst Weigh In

HXL has been the subject of a number of analyst reports. Zacks Research upgraded shares of Hexcel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. BMO Capital Markets raised their target price on Hexcel from $67.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Citigroup reiterated a “reduce” rating on shares of Hexcel in a research report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of Hexcel in a report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hexcel in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Hexcel currently has an average rating of “Hold” and an average target price of $73.33.

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.