Hexcel (NYSE:HXL) Sees Unusually-High Trading Volume After 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 traded 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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.94%. Hexcel’s dividend payout ratio (DPR) is 48.39%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HXL shares. Barclays reduced 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. Northcoast Research downgraded shares of Hexcel from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 10th. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Bank of America restated an “underperform” rating and set a $65.00 target price (down from $75.00) on shares of Hexcel in a research report on Wednesday, April 10th. Finally, Truist Financial cut their target price on shares of Hexcel from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.50.

Hexcel Stock Up 2.0 %

The company has a market capitalization of $5.30 billion, a P/E ratio of 50.43, a PEG ratio of 1.28 and a beta of 1.23. The firm’s 50 day moving average price is $71.17 and its two-hundred day moving average price is $69.55. 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 issued its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.50 EPS. Equities research analysts forecast that Hexcel Co. will post 2.22 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Hexcel

Hedge funds have recently added to or reduced their stakes in the business. CENTRAL TRUST Co lifted its holdings in Hexcel by 68.1% during the 3rd quarter. CENTRAL TRUST Co now owns 442 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 179 shares during the last quarter. Cetera Trust Company N.A bought a new position in Hexcel during the 4th quarter worth $30,000. RiverPark Advisors LLC bought a new position in Hexcel during the 3rd quarter worth $41,000. Arcadia Investment Management Corp MI increased its position in Hexcel by 110.2% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 641 shares of the aerospace company’s stock worth $42,000 after buying an additional 336 shares during the period. Finally, Principal Securities Inc. bought a new position in Hexcel during the 4th quarter worth $51,000. 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.