Truist Financial Corp Trims Stock Position in Hexcel Co. (NYSE:HXL)

Truist Financial Corp cut its position in Hexcel Co. (NYSE:HXL) by 35.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,486 shares of the aerospace company’s stock after selling 21,564 shares during the quarter. Truist Financial Corp’s holdings in Hexcel were worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new stake in shares of Hexcel in the 1st quarter valued at $36,000. Centerpoint Advisors LLC boosted its position in Hexcel by 44.6% during the first quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after buying an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Hexcel during the first quarter valued at about $54,000. GAMMA Investing LLC lifted its stake in shares of Hexcel by 34.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after acquiring an additional 276 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Hexcel during the 1st quarter valued at about $119,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on HXL. UBS Group lowered their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. BMO Capital Markets lowered their price target on Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Truist Financial cut their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hexcel presently has a consensus rating of “Hold” and a consensus target price of $73.46.

Hexcel Stock Performance

HXL stock opened at $58.70 on Friday. Hexcel Co. has a one year low of $57.50 and a one year high of $77.09. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 1.37 and a beta of 1.29. 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 firm has a 50-day simple moving average of $61.55 and a two-hundred day simple moving average of $64.95.

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 the consensus estimate of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The company had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same period in the prior year, the company posted $0.50 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Hexcel Co. will post 2.08 EPS for the current fiscal year.

Hexcel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. Hexcel’s payout ratio is currently 51.28%.

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.