Hexcel (NYSE:HXL) Sees Strong Trading Volume Following Dividend Announcement

Shares of Hexcel Co. (NYSE:HXL) saw unusually-strong trading volume on Tuesday after the company announced a dividend. Approximately 1,134,542 shares changed hands during trading, an increase of 29% from the previous session’s volume of 876,221 shares.The stock last traded at $63.83 and had previously closed at $62.52.

The newly announced dividend which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be issued a $0.15 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.60 annualized dividend and a yield of 0.95%. Hexcel’s dividend payout ratio (DPR) is presently 51.28%.

Analysts Set New Price Targets

Several research analysts recently commented on HXL shares. Wells Fargo & Company lifted their target price on shares of Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price target on shares of Hexcel in a research report on Wednesday, February 21st. StockNews.com lowered shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Northcoast Research lowered shares of Hexcel from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. Finally, Barclays decreased their price target on shares of Hexcel from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.57.

Hexcel Stock Down 0.5 %

The stock has a market capitalization of $5.26 billion, a P/E ratio of 54.06, a P/E/G ratio of 1.30 and a beta of 1.23. The firm’s fifty day moving average is $70.81 and its 200-day moving average is $69.48. The company has a current ratio of 2.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.41.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.91%. The firm had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. During the same period last year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Hexcel Co. will post 2.22 earnings per share for the current year.

Insiders Place Their Bets

In other Hexcel news, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the transaction, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Gina Fitzsimons sold 864 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the sale, the insider now directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HXL. Simplicity Wealth LLC acquired a new position in shares of Hexcel in the first quarter valued at approximately $212,000. Global Retirement Partners LLC boosted its holdings in shares of Hexcel by 21.1% in the first quarter. Global Retirement Partners LLC now owns 1,669 shares of the aerospace company’s stock valued at $122,000 after buying an additional 291 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Hexcel by 3.0% in the first quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the aerospace company’s stock valued at $1,770,000 after buying an additional 700 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Hexcel by 8.0% in the first quarter. Fifth Third Bancorp now owns 52,259 shares of the aerospace company’s stock valued at $3,807,000 after buying an additional 3,885 shares during the period. Finally, Leeward Investments LLC MA boosted its holdings in shares of Hexcel by 0.3% in the first quarter. Leeward Investments LLC MA now owns 342,684 shares of the aerospace company’s stock valued at $24,964,000 after buying an additional 889 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.