M&T Bank Corp cut its position in shares of Hexcel Co. (NYSE:HXL) by 10.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,469 shares of the aerospace company’s stock after selling 1,158 shares during the quarter. M&T Bank Corp’s holdings in Hexcel were worth $847,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of HXL. Geode Capital Management LLC increased its holdings in shares of Hexcel by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 825,656 shares of the aerospace company’s stock worth $47,343,000 after buying an additional 38,230 shares during the last quarter. Creative Planning purchased a new stake in Hexcel during the first quarter valued at about $201,000. SG Americas Securities LLC purchased a new stake in Hexcel during the first quarter valued at about $106,000. Comerica Bank grew its position in Hexcel by 4.7% during the first quarter. Comerica Bank now owns 5,892 shares of the aerospace company’s stock valued at $401,000 after acquiring an additional 266 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Hexcel during the first quarter worth about $1,140,000. 95.03% of the stock is owned by institutional investors and hedge funds.
Shares of HXL stock traded down $0.85 during trading hours on Wednesday, hitting $81.41. 4,534 shares of the company were exchanged, compared to its average volume of 442,936. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.28 and a current ratio of 2.22. Hexcel Co. has a one year low of $53.50 and a one year high of $87.00. The business’s 50-day simple moving average is $81.96 and its two-hundred day simple moving average is $75.42. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 2.29 and a beta of 1.04.
In other news, insider Brett Raymond Schneider sold 4,417 shares of Hexcel stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $81.61, for a total value of $360,471.37. Following the completion of the transaction, the insider now directly owns 10,201 shares of the company’s stock, valued at approximately $832,503.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert George Hennemuth sold 37,544 shares of Hexcel stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $83.56, for a total transaction of $3,137,176.64. Following the completion of the transaction, the insider now directly owns 73,046 shares of the company’s stock, valued at $6,103,723.76. The disclosure for this sale can be found here. Insiders sold a total of 57,623 shares of company stock valued at $4,840,665 over the last quarter. Company insiders own 1.40% of the company’s stock.
Several research firms have recently weighed in on HXL. Barclays reaffirmed a “hold” rating and issued a $77.00 price objective on shares of Hexcel in a research note on Sunday, May 26th. BMO Capital Markets increased their target price on shares of Hexcel from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered shares of Hexcel from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Tuesday, July 2nd. Canaccord Genuity lifted their price target on shares of Hexcel from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Goldman Sachs Group downgraded shares of Hexcel from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Hexcel presently has an average rating of “Hold” and a consensus target price of $81.05.
Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates in two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in cars, boats, and trains.
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