Hexcel Co. (NYSE:HXL) Announces $0.15 Quarterly Dividend

Hexcel Co. (NYSE:HXL) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 0.96%.

Hexcel has increased its dividend payment by an average of 43.3% annually over the last three years and has raised its dividend every year for the last 2 years. Hexcel has a dividend payout ratio of 20.3% meaning 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 Stock Performance

NYSE HXL opened at $62.53 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 50.43, a PEG ratio of 1.28 and a beta of 1.23. The company has a 50 day moving average of $71.17 and a 200-day moving average of $69.55. Hexcel has a 1-year low of $58.81 and a 1-year high of $79.08.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $472.30 million during the quarter, compared to analyst estimates of $468.93 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. On average, equities analysts forecast that Hexcel will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HXL has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of Hexcel from $78.00 to $81.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Truist Financial reduced their price objective on shares of Hexcel from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Barclays reduced their price objective on shares of Hexcel from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Hexcel in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Hexcel from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $76.50.

Insider Transactions at Hexcel

In other news, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction on Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction 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 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 SEC, which is available at this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of the firm’s stock in a transaction 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 in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

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.