Hexcel Co. to Issue Quarterly Dividend of $0.15 (NYSE:HXL)

Hexcel Co. (NYSE:HXL) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Investors of record on Friday, May 3rd will be given a dividend of 0.15 per share by the aerospace company on Friday, May 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, May 2nd.

Hexcel has raised its dividend payment by an average of 43.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Hexcel has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hexcel to earn $2.93 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.5%.

Hexcel Price Performance

HXL opened at $63.54 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. Hexcel has a 12 month low of $58.81 and a 12 month high of $79.08. The company has a fifty day simple moving average of $71.02 and a 200 day simple moving average of $69.52. The stock has a market cap of $5.28 billion, a P/E ratio of 54.31, a P/E/G ratio of 1.30 and a beta of 1.23.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.91%. The business had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. On average, research analysts expect that Hexcel will post 2.22 EPS for the current year.

Insider Activity at Hexcel

In related news, insider Thierry Merlot sold 4,500 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now directly owns 50,371 shares in the company, valued at approximately $3,608,074.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the sale, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the sale, the insider now owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The disclosure for this sale can be found here. 1.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on HXL shares. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of Hexcel in a research report on Wednesday, February 21st. The Goldman Sachs Group increased their target price on Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their target price on Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Truist Financial lowered their target price on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 19th. Finally, Bank of America reiterated an “underperform” rating and set a $65.00 target price (down previously from $75.00) on shares of Hexcel in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.50.

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.