Hexcel Co. (HXL) to Issue Quarterly Dividend of $0.15 on February 16th

Hexcel Co. (NYSE:HXLGet Free Report) announced a quarterly dividend on Wednesday, January 24th, RTT News reports. Shareholders of record on Friday, February 9th will be given a dividend of 0.15 per share by the aerospace company on Friday, February 16th. This represents a $0.60 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, February 8th. This is an increase from Hexcel’s previous quarterly dividend of $0.13.

Hexcel has raised 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 payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hexcel to earn $3.02 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 19.9%.

Hexcel Stock Performance

Shares of HXL stock opened at $68.72 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. Hexcel has a 52 week low of $58.81 and a 52 week high of $79.08. The company’s 50 day moving average price is $71.07 and its two-hundred day moving average price is $68.88. The company has a market capitalization of $5.78 billion, a P/E ratio of 55.42, a price-to-earnings-growth ratio of 1.28 and a beta of 1.22.

Hexcel (NYSE:HXLGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $457.50 million for the quarter, compared to the consensus estimate of $474.01 million. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. On average, analysts expect that Hexcel will post 2.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 price objective on shares of Hexcel in a report on Friday, January 26th. Barclays lowered their target price on Hexcel from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Truist Financial raised Hexcel from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $96.00 in a research report on Wednesday, January 10th. BMO Capital Markets lowered their price target on Hexcel from $78.00 to $69.00 and set a “market perform” rating on the stock in a research report on Monday, January 29th. Finally, Wells Fargo & Company dropped their price objective on Hexcel from $81.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Monday, January 29th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.77.

Check Out Our Latest Research Report on Hexcel

Hedge Funds Weigh In On Hexcel

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in Hexcel by 12.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock valued at $492,000 after buying an additional 922 shares during the last quarter. US Bancorp DE grew its position in shares of Hexcel by 17.0% in the first quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock valued at $658,000 after purchasing an additional 1,609 shares during the last quarter. HighTower Advisors LLC increased its stake 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. lifted its holdings in Hexcel by 18.0% during the 1st 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 last quarter. Finally, Bank of Montreal Can boosted its stake in Hexcel by 22.7% in the 1st quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock valued at $2,087,000 after purchasing an additional 6,443 shares during the period. 94.71% of the stock is currently owned by institutional investors and hedge funds.

Hexcel Company Profile

(Get Free Report)

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.

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Dividend History for Hexcel (NYSE:HXL)

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