Hexcel Co. (NYSE:HXL) Increases Dividend to $0.13 Per Share

Hexcel Co. (NYSE:HXL – Get Rating) announced a quarterly dividend on Wednesday, January 25th, RTT News reports. Shareholders of record on Friday, February 10th will be paid 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 a positive change from Hexcel’s previous quarterly dividend of $0.10.

Hexcel has decreased its dividend by an average of 14.5% annually over the last three years. Hexcel has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities 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 mid-day trading on Wednesday. The company’s stock had a trading volume of 663,108 shares, compared to its average volume of 494,500. The stock’s fifty day moving average price is $59.70 and its two-hundred day moving average price is $58.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.35 and a current ratio of 2.42. Hexcel has a 12-month low of $47.38 and a 12-month high of $65.82. The company has a market cap of $5.23 billion, a PE ratio of 47.97 and a beta of 1.22.

Hexcel (NYSE:HXL – Get Rating) last issued its quarterly earnings results on Monday, October 24th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. Hexcel had a return on equity of 6.01% and a net margin of 7.17%. The firm had revenue of $364.70 million for the quarter, compared to analyst estimates of $398.38 million. During the same period last year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Hexcel will post 1.2 EPS for the current fiscal year.

Insider Activity at Hexcel

In related news, insider Gina Fitzsimons sold 1,257 shares of the firm’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $61.64, for a total transaction of $77,481.48. Following the sale, the insider now directly owns 1,538 shares in the company, valued at approximately $94,802.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On Hexcel

A number of hedge funds have recently bought and sold shares of HXL. Point72 Hong Kong Ltd acquired a new stake in Hexcel during the 2nd quarter valued at approximately $98,000. Keeley Teton Advisors LLC acquired a new stake in Hexcel during the 1st quarter valued at approximately $214,000. Wetherby Asset Management Inc. acquired a new stake in Hexcel during the 1st quarter valued at approximately $233,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Hexcel in the 3rd quarter worth approximately $261,000. Finally, Advisory Services Network LLC acquired a new position in shares of Hexcel in the 1st quarter worth approximately $373,000. Institutional investors and hedge funds own 97.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HXL. Royal Bank of Canada raised their price target on Hexcel from $57.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 26th. StockNews.com assumed coverage on Hexcel in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wolfe Research assumed coverage on Hexcel in a report on Monday, October 10th. They issued a “peer perform” rating on the stock. Wells Fargo & Company raised their price objective on Hexcel from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 26th. Finally, Truist Financial raised their price objective on Hexcel from $52.00 to $53.00 in a report on Monday, January 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $58.56.

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.