Hexcel Corporation (NYSE:HXL) to Issue $0.17 Quarterly Dividend

Hexcel Corporation (NYSE:HXL - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Friday, August 8th will be paid a dividend of 0.17 per share by the aerospace company on Friday, August 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.09%.

Hexcel has a payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hexcel to earn $2.77 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 24.5%.

Hexcel Trading Down 0.4%

NYSE:HXL traded down $0.23 during trading hours on Thursday, hitting $62.37. 2,121,063 shares of the stock were exchanged, compared to its average volume of 1,200,942. The company's 50 day moving average is $55.92 and its two-hundred day moving average is $57.64. The company has a market capitalization of $5.02 billion, a P/E ratio of 41.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.28. Hexcel has a twelve month low of $45.28 and a twelve month high of $71.05. The company has a quick ratio of 1.39, a current ratio of 2.59 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The aerospace company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.06). Hexcel had a net margin of 6.60% and a return on equity of 10.36%. The firm had revenue of $456.50 million during the quarter, compared to the consensus estimate of $482.18 million. During the same quarter in the prior year, the company earned $0.44 EPS. On average, sell-side analysts anticipate that Hexcel will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Hexcel by 14.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 274,522 shares of the aerospace company's stock worth $15,033,000 after purchasing an additional 34,822 shares during the period. Royal Bank of Canada lifted its stake in shares of Hexcel by 12.6% in the first quarter. Royal Bank of Canada now owns 119,501 shares of the aerospace company's stock worth $6,544,000 after buying an additional 13,374 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Hexcel by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,360 shares of the aerospace company's stock valued at $348,000 after purchasing an additional 468 shares during the last quarter. Caxton Associates LLP purchased a new stake in Hexcel during the first quarter valued at approximately $234,000. Finally, Geneos Wealth Management Inc. increased its holdings in Hexcel by 138.7% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the aerospace company's stock valued at $42,000 after buying an additional 441 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Hexcel from a "buy" rating to a "hold" rating in a research note on Sunday, April 27th. Wells Fargo & Company decreased their target price on shares of Hexcel from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Truist Financial decreased their target price on shares of Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Barclays decreased their target price on shares of Hexcel from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Finally, Morgan Stanley boosted their target price on shares of Hexcel from $50.00 to $55.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $59.22.

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.

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