Hexcel Corporation (NYSE:HXL) Plans Quarterly Dividend of $0.17

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 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, August 8th.

Hexcel has a dividend payout ratio of 27.0% meaning 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 Stock Up 1.1%

Shares of NYSE:HXL traded up $0.68 during trading on Monday, reaching $61.79. 1,521,692 shares of the stock were exchanged, compared to its average volume of 1,117,293. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.69 and a quick ratio of 1.50. Hexcel has a 1-year low of $45.28 and a 1-year high of $71.05. The stock has a fifty day moving average of $56.54 and a two-hundred day moving average of $57.52. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 57.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28.

Hexcel (NYSE:HXL - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $489.90 million during the quarter, compared to the consensus estimate of $482.20 million. Hexcel had a return on equity of 9.76% and a net margin of 4.69%. Hexcel's revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. Research analysts anticipate that Hexcel will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Hexcel

Several institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. raised its holdings in shares of Hexcel by 138.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the aerospace company's stock valued at $42,000 after acquiring an additional 441 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 valued at $15,033,000 after acquiring an additional 34,822 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Hexcel during the 1st quarter valued at about $234,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Hexcel by 7.9% during the 1st 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. Finally, Royal Bank of Canada increased its position in shares of Hexcel by 12.6% during the 1st quarter. Royal Bank of Canada now owns 119,501 shares of the aerospace company's stock valued at $6,544,000 after purchasing an additional 13,374 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HXL. Wells Fargo & Company reduced their price objective on Hexcel from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets dropped their price objective on Hexcel from $72.00 to $52.00 and set a "market perform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial dropped their price objective on Hexcel from $73.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $70.00 price objective (up previously from $65.00) on shares of Hexcel in a report on Monday. Finally, UBS Group increased their price objective on Hexcel from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $61.67.

About Hexcel

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.