Hexcel Co. (NYSE:HXL – Get Free Report) shot up 3.4% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $66.98 and last traded at $65.75. 351,852 shares changed hands during trading, a decline of 59% from the average session volume of 862,886 shares. The stock had previously closed at $63.60.
The aerospace company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share.
Hexcel Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Hexcel’s dividend payout ratio (DPR) is presently 51.28%.
Analysts Set New Price Targets
View Our Latest Stock Report on HXL
Institutional Investors Weigh In On Hexcel
Institutional investors have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of Hexcel in the first quarter valued at $36,000. Centerpoint Advisors LLC grew its stake in shares of Hexcel by 44.6% in the first quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock valued at $53,000 after buying an additional 223 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Hexcel in the first quarter valued at $54,000. Eastern Bank acquired a new stake in shares of Hexcel in the third quarter valued at $62,000. Finally, GAMMA Investing LLC grew its stake in shares of Hexcel by 34.8% in the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after buying an additional 276 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.
Hexcel Price Performance
The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. The stock has a 50 day moving average price of $61.64 and a two-hundred day moving average price of $64.29. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 1.38 and a beta of 1.29.
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.
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