Meros Investment Management LP purchased a new stake in Ducommun Incorporated (NYSE:DCO – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 118,423 shares of the aerospace company’s stock, valued at approximately $21,933,124,000. Ducommun makes up about 7.0% of Meros Investment Management LP’s investment portfolio, making the stock its largest holding. Meros Investment Management LP owned approximately 0.78% of Ducommun at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Ducommun during the second quarter worth about $359,395,000. Vanguard Group Inc. raised its holdings in shares of Ducommun by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company’s stock valued at $80,134,000 after buying an additional 19,143 shares during the period. Paradigm Capital Management Inc. NY purchased a new stake in shares of Ducommun during the 2nd quarter valued at about $142,704,000. State Street Corp lifted its position in Ducommun by 10.4% during the 4th quarter. State Street Corp now owns 670,966 shares of the aerospace company’s stock worth $63,829,000 after acquiring an additional 63,070 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Ducommun by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 333,371 shares of the aerospace company’s stock worth $31,720,000 after acquiring an additional 5,899 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
DCO has been the subject of several recent research reports. B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a research report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating on shares of Ducommun in a research note on Monday, August 10th. Weiss Ratings lowered shares of Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Citigroup reaffirmed a “buy” rating on shares of Ducommun in a research note on Wednesday, August 12th. Finally, Truist Financial boosted their price objective on shares of Ducommun from $150.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Ducommun currently has an average rating of “Moderate Buy” and a consensus target price of $192.60.
Insider Buying and Selling at Ducommun
In related news, VP Laureen S. Gonzalez sold 589 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the sale, the vice president directly owned 11,172 shares of the company’s stock, valued at $1,698,032.28. This represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen G. Oswald sold 2,500 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total transaction of $509,875.00. Following the transaction, the chief executive officer owned 383,864 shares in the company, valued at $78,289,062.80. This trade represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,855 shares of company stock worth $1,759,228 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.
Ducommun Price Performance
DCO stock opened at $181.32 on Wednesday. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. Ducommun Incorporated has a 52-week low of $84.76 and a 52-week high of $210.39. The stock’s 50 day moving average is $181.29 and its two-hundred day moving average is $152.12. The company has a market capitalization of $2.74 billion, a PE ratio of -96.96 and a beta of 1.04.
Ducommun (NYSE:DCO – Get Free Report) last released its earnings results on Thursday, August 6th. The aerospace company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $214.32 million. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Analysts predict that Ducommun Incorporated will post 4.26 earnings per share for the current fiscal year.
Ducommun Profile
Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.
Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.
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