Diamond Hill Capital Management Inc. Increases Stake in Ducommun Incorporated (NYSE:DCO)

Diamond Hill Capital Management Inc. raised its stake in shares of Ducommun Incorporated (NYSE:DCO) by 70.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 112,664 shares of the aerospace company’s stock after acquiring an additional 46,544 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Ducommun were worth $6,541,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Ducommun by 658.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,927 shares of the aerospace company’s stock valued at $100,000 after buying an additional 1,673 shares in the last quarter. EntryPoint Capital LLC grew its holdings in Ducommun by 323.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,505 shares of the aerospace company’s stock valued at $129,000 after buying an additional 1,914 shares in the last quarter. Arizona State Retirement System bought a new position in shares of Ducommun during the 2nd quarter valued at approximately $202,000. State Board of Administration of Florida Retirement System bought a new position in shares of Ducommun during the 1st quarter valued at approximately $274,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Ducommun during the 1st quarter valued at approximately $295,000. 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 a number of research reports. Truist Financial reiterated a “buy” rating and set a $72.00 target price (up from $65.00) on shares of Ducommun in a research report on Friday, August 9th. StockNews.com upgraded Ducommun from a “hold” rating to a “buy” rating in a research report on Saturday, August 17th. Finally, The Goldman Sachs Group upgraded Ducommun from a “neutral” rating to a “buy” rating and increased their target price for the company from $64.00 to $80.00 in a research report on Tuesday, August 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Ducommun currently has a consensus rating of “Buy” and an average target price of $71.00.

Ducommun Stock Performance

Shares of Ducommun stock opened at $64.74 on Monday. The company has a market capitalization of $952.71 million, a PE ratio of 54.40 and a beta of 1.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.97 and a current ratio of 3.06. The company has a 50-day simple moving average of $62.47 and a two-hundred day simple moving average of $57.37. Ducommun Incorporated has a one year low of $42.31 and a one year high of $66.13.

Ducommun (NYSE:DCO) last posted its quarterly earnings data on Thursday, August 8th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $194.57 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Ducommun Incorporated will post 2.93 EPS for the current fiscal year.

Insider Activity at Ducommun

In other Ducommun news, CEO Stephen G. Oswald sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $58.23, for a total value of $116,460.00. Following the sale, the chief executive officer now owns 347,539 shares in the company, valued at approximately $20,237,195.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Jerry L. Redondo sold 770 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $64.20, for a total value of $49,434.00. Following the completion of the transaction, the vice president now directly owns 63,826 shares of the company’s stock, valued at approximately $4,097,629.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen G. Oswald sold 2,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $58.23, for a total value of $116,460.00. Following the completion of the transaction, the chief executive officer now directly owns 347,539 shares of the company’s stock, valued at $20,237,195.97. The disclosure for this sale can be found here. Insiders have sold a total of 6,070 shares of company stock worth $366,171 over the last quarter. Insiders own 8.80% of the company’s stock.

About Ducommun

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.