STAMFORD, Conn. - Hexcel Corporation (NYSE:HXL), a company specializing in advanced lightweight composites technology, has declared a regular quarterly cash dividend. The announcement, made today, states that the dividend of $0.17 per share will be payable to stockholders of record as of February 7, 2025. The scheduled payment date for this dividend is February 14, 2025. According to InvestingPro data, Hexcel has consistently raised its dividend for three consecutive years, with a notable 20% dividend growth over the last twelve months.
Hexcel’s decision to issue a dividend reflects its ongoing commitment to provide returns to its shareholders. The company, known for its role in various high-performance sectors, including aerospace, defense, and industrial applications, offers products such as carbon fiber, specialty reinforcements, prepregs, honeycomb, resins, and engineered core. With a market capitalization of $5.5 billion and a strong financial health score rated as "Good" by InvestingPro, the company maintains a solid balance sheet with liquid assets exceeding short-term obligations.
The declaration of this dividend follows Hexcel’s established pattern of distributing profits to its shareholders on a quarterly basis. It is a financial event that investors and market watchers anticipate as a sign of a company’s financial health and its ability to generate cash flow. The company’s management has been actively returning value to shareholders through aggressive share buybacks, while maintaining a moderate debt level with a debt-to-equity ratio of 0.51.
Hexcel’s broad product range, which is utilized in commercial aerospace, space and defense, and industrial applications, positions the company as a key player in the composites industry. Its materials are designed to be lighter, stronger, and tougher, contributing to advancements in various fields that demand high-performance solutions.
This dividend announcement is based on a press release statement issued by Hexcel Corporation. The company has not provided additional commentary on the financial strategies or future prospects associated with this dividend declaration.
Investors holding shares of Hexcel as of the record date will be eligible for the dividend payment in mid-February. The company’s stock is publicly traded on the New York Stock Exchange under the ticker symbol HXL.
In other recent news, Hexcel Corporation has seen significant developments. In one of the major highlights, the company announced the departure of Philippe Chevrier, President of Americas & Global Fibers, effective January 31, 2025. In addition, RBC Capital Markets upgraded Hexcel’s stock from Sector Perform to Outperform, citing potential upside despite possible risks to the company’s estimates for the years 2025-2026. The firm also increased its price target on the stock to $74.00.
Furthermore, Hexcel confirmed significant changes to its board of directors and executive leadership, with the appointment of Thomas C. Gentile III as the new Chairman, replacing the retired Nick L. Stanage. David Li has been appointed to a newly created board seat. BMO Capital Markets revised its price target for Hexcel due to cost pressures, while UBS maintains a neutral stance due to potential volatility.
In terms of financial performance, Hexcel reported an 8% increase in sales during its third quarter 2024 earnings call, reaching $457 million, largely driven by a 17% rise in commercial aerospace sales and a 20% increase in adjusted EPS to $0.47. These are the recent developments for Hexcel Corporation.
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