Fulton Bank N.A. Sells 202 Shares of Hexcel Co. (NYSE:HXL)

Fulton Bank N.A. cut its position in Hexcel Co. (NYSE:HXL) by 5.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,580 shares of the aerospace company’s stock after selling 202 shares during the quarter. Fulton Bank N.A.’s holdings in Hexcel were worth $224,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Hexcel during the fourth quarter valued at about $66,597,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Hexcel by 143.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,466,380 shares of the aerospace company’s stock valued at $108,146,000 after acquiring an additional 864,405 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of Hexcel by 93.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,503,055 shares of the aerospace company’s stock valued at $110,850,000 after acquiring an additional 724,280 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Hexcel by 114.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,321 shares of the aerospace company’s stock valued at $31,786,000 after acquiring an additional 232,827 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Hexcel by 151.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 344,342 shares of the aerospace company’s stock valued at $25,086,000 after acquiring an additional 207,434 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

Hexcel Price Performance

Shares of NYSE:HXL traded down $0.12 during midday trading on Tuesday, reaching $60.81. 776,112 shares of the company’s stock traded hands, compared to its average volume of 942,949. Hexcel Co. has a 1 year low of $58.81 and a 1 year high of $77.09. The company has a market cap of $5.05 billion, a P/E ratio of 51.97, a PEG ratio of 1.40 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. The company has a fifty day simple moving average of $64.72 and a two-hundred day simple moving average of $68.34.

Hexcel (NYSE:HXL) last announced its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Equities analysts predict that Hexcel Co. will post 2.09 EPS for the current fiscal year.

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, August 2nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, August 2nd. Hexcel’s dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HXL shares. Bank of America restated an “underperform” rating and set a $65.00 price objective (down previously from $75.00) on shares of Hexcel in a report on Wednesday, April 10th. Truist Financial cut their price target on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Friday, June 28th. UBS Group cut their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Finally, Northcoast Research downgraded shares of Hexcel from a “buy” rating to a “neutral” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $75.71.

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.