Meros Investment Management LP Increases Position in Ducommun Incorporated (NYSE:DCO)

Meros Investment Management LP raised its stake in Ducommun Incorporated (NYSE:DCO) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 206,449 shares of the aerospace company’s stock after acquiring an additional 2,880 shares during the period. Ducommun makes up 5.7% of Meros Investment Management LP’s portfolio, making the stock its 2nd largest holding. Meros Investment Management LP’s holdings in Ducommun were worth $11,986,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Ducommun by 658.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,927 shares of the aerospace company’s stock worth $100,000 after buying an additional 1,673 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of Ducommun by 323.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,505 shares of the aerospace company’s stock worth $129,000 after buying an additional 1,914 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Ducommun in the 2nd quarter worth about $202,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Ducommun in the 1st quarter worth about $274,000. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Ducommun in the 2nd quarter worth about $305,000. 92.15% of the stock is currently owned by institutional investors.

Insider Transactions at Ducommun

In other news, VP Jerry L. Redondo sold 770 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $64.20, for a total value of $49,434.00. Following the completion of the sale, the vice president now owns 63,826 shares of the company’s stock, valued at approximately $4,097,629.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ducommun news, VP Jerry L. Redondo sold 770 shares of Ducommun stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $64.20, for a total value of $49,434.00. Following the transaction, the vice president now directly owns 63,826 shares of the company’s stock, valued at $4,097,629.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen G. Oswald sold 1,200 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $66.32, for a total value of $79,584.00. Following the transaction, the chief executive officer now directly owns 341,151 shares in the company, valued at $22,625,134.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,270 shares of company stock valued at $329,295. Company insiders own 8.80% of the company’s stock.

Ducommun Price Performance

Ducommun stock opened at $65.00 on Friday. The stock has a market cap of $956.54 million, a price-to-earnings ratio of 54.62 and a beta of 1.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.06 and a quick ratio of 1.97. Ducommun Incorporated has a 1 year low of $42.46 and a 1 year high of $66.77. The firm has a 50-day moving average of $63.39 and a two-hundred day moving average of $58.25.

Ducommun (NYSE:DCO) last announced its quarterly earnings results on Thursday, August 8th. The aerospace company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. Ducommun had a net margin of 2.95% and a return on equity of 6.79%. The firm had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $194.57 million. During the same quarter in the prior year, the company earned $0.54 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Ducommun Incorporated will post 2.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DCO. StockNews.com upgraded shares of Ducommun from a “hold” rating to a “buy” rating in a report on Saturday, August 17th. Truist Financial reaffirmed a “buy” rating and set a $72.00 price target (up from $65.00) on shares of Ducommun in a research note on Friday, August 9th. Finally, The Goldman Sachs Group raised shares of Ducommun from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $64.00 to $80.00 in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $71.00.

Ducommun Company Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.