Hexcel Co. (NYSE:HXL) to Issue Dividend Increase – $0.13 Per Share

Hexcel Co. (NYSE:HXLGet Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Investors of record on Friday, February 10th will be given a dividend of 0.125 per share by the aerospace company on Friday, February 17th. This represents a $0.50 dividend on an annualized basis and a yield of 0.80%. This is an increase from Hexcel’s previous quarterly dividend of $0.10.

Hexcel has decreased its dividend payment by an average of 14.5% annually over the last three years. Hexcel has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Hexcel to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 22.7%.

Hexcel Price Performance

NYSE:HXL remained flat at $62.16 during midday trading on Wednesday. The company had a trading volume of 663,108 shares, compared to its average volume of 494,500. Hexcel has a twelve month low of $47.38 and a twelve month high of $65.82. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 47.97 and a beta of 1.22. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $59.70 and a two-hundred day moving average of $58.37.

Hexcel (NYSE:HXLGet Rating) last announced its earnings results on Monday, October 24th. The aerospace company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $364.70 million for the quarter, compared to the consensus estimate of $398.38 million. Hexcel had a return on equity of 6.01% and a net margin of 7.17%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. On average, equities research analysts forecast that Hexcel will post 1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

HXL has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Hexcel in a research note on Monday, October 10th. They set a “peer perform” rating on the stock. BMO Capital Markets cut their target price on Hexcel from $66.00 to $61.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 1st. Truist Financial lifted their target price on Hexcel from $52.00 to $53.00 in a research note on Monday, January 9th. StockNews.com initiated coverage on Hexcel in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lifted their target price on Hexcel from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.56.

Insider Transactions at Hexcel

In other news, insider Gina Fitzsimons sold 1,257 shares of the business’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $61.64, for a total value of $77,481.48. Following the sale, the insider now owns 1,538 shares of the company’s stock, valued at approximately $94,802.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On Hexcel

A number of institutional investors and hedge funds have recently modified their holdings of HXL. Raymond James Financial Services Advisors Inc. raised its position in shares of Hexcel by 12.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock worth $492,000 after purchasing an additional 922 shares during the period. US Bancorp DE raised its position in shares of Hexcel by 17.0% during the first quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock worth $658,000 after purchasing an additional 1,609 shares during the period. HighTower Advisors LLC raised its position in shares of Hexcel by 10.6% during the first quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company’s stock worth $1,017,000 after purchasing an additional 1,641 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Hexcel by 18.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company’s stock worth $1,000,000 after purchasing an additional 2,567 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Hexcel by 22.7% during the first quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock worth $2,087,000 after purchasing an additional 6,443 shares during the period. 97.87% of the stock is owned by institutional investors and hedge funds.

About Hexcel

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Hexcel Corp. engages in the development, manufacture, and marketing of lightweight structural materials. It includes carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, radio frequency / electromagnetic interference (RF/EMI) and microwave absorbing materials, engineered honeycomb and composite structures.

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Dividend History for Hexcel (NYSE:HXL)

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