Hexcel Corporation (NYSE:HXL) announced a quarterly dividend on Wednesday, October 18th, RTT News reports. Stockholders of record on Wednesday, November 1st will be paid a dividend of 0.125 per share by the aerospace company on Wednesday, November 8th. This represents a $0.50 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, October 31st.
Hexcel Corporation has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hexcel Corporation to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 16.8%.
Shares of Hexcel Corporation (NYSE:HXL) traded down 1.34% during mid-day trading on Friday, hitting $61.21. The stock had a trading volume of 665,677 shares. Hexcel Corporation has a 12-month low of $44.61 and a 12-month high of $63.93. The firm’s 50-day moving average price is $57.91 and its 200 day moving average price is $53.69. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 22.42 and a beta of 1.04.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Hexcel Corporation had a return on equity of 18.40% and a net margin of 13.13%. The business had revenue of $491.50 million for the quarter, compared to analyst estimates of $507.77 million. During the same period last year, the company earned $0.65 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that Hexcel Corporation will post $2.68 EPS for the current fiscal year.
Several research analysts have recently issued reports on HXL shares. KeyCorp restated a “buy” rating and issued a $60.00 price target on shares of Hexcel Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded Hexcel Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised Hexcel Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $50.00 price objective (down previously from $52.00) on shares of Hexcel Corporation in a research note on Tuesday, July 25th. Finally, Vertical Research downgraded Hexcel Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $58.00 to $54.00 in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.20.
In other Hexcel Corporation news, SVP Kimberly A. Hendricks sold 2,608 shares of Hexcel Corporation stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $63.35, for a total value of $165,216.80. Following the sale, the senior vice president now owns 22,221 shares of the company’s stock, valued at approximately $1,407,700.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
A hedge fund recently raised its stake in Hexcel Corporation stock. The Manufacturers Life Insurance Company lifted its stake in Hexcel Corporation (NYSE:HXL) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,098 shares of the aerospace company’s stock after acquiring an additional 200 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Hexcel Corporation were worth $163,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 96.60% of the company’s stock.
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Hexcel Corporation Company Profile
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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