Diamond Hill Capital Management Inc. Sells 8,545 Shares of Ducommun Incorporated $DCO

Diamond Hill Capital Management Inc. decreased its holdings in shares of Ducommun Incorporated (NYSE:DCO) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,757 shares of the aerospace company’s stock after selling 8,545 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Ducommun were worth $13,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new position in Ducommun during the third quarter worth about $1,163,000. Thornburg Investment Management Inc. bought a new position in Ducommun during the third quarter worth about $12,953,000. Aberdeen Group plc lifted its stake in Ducommun by 7.2% during the fourth quarter. Aberdeen Group plc now owns 218,433 shares of the aerospace company’s stock worth $20,780,000 after purchasing an additional 14,721 shares during the period. SG Americas Securities LLC lifted its stake in Ducommun by 248.9% during the fourth quarter. SG Americas Securities LLC now owns 30,799 shares of the aerospace company’s stock worth $2,930,000 after purchasing an additional 21,972 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Ducommun by 63.7% during the third quarter. Advisors Asset Management Inc. now owns 31,741 shares of the aerospace company’s stock worth $3,051,000 after purchasing an additional 12,353 shares during the period. Institutional investors own 92.15% of the company’s stock.

Ducommun Stock Performance

NYSE:DCO opened at $144.11 on Friday. The company has a current ratio of 3.67, a quick ratio of 2.59 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2.17 billion, a P/E ratio of -61.06 and a beta of 1.06. The firm has a 50 day moving average of $135.47 and a 200-day moving average of $116.40. Ducommun Incorporated has a 1 year low of $66.24 and a 1 year high of $156.32.

Ducommun (NYSE:DCO) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The business had revenue of $209.02 million during the quarter, compared to analyst estimates of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. Ducommun’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 earnings per share. As a group, sell-side analysts anticipate that Ducommun Incorporated will post 4.16 EPS for the current fiscal year.

Analyst Ratings Changes

DCO has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Ducommun from $141.00 to $167.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen upgraded shares of Ducommun from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Truist Financial upgraded shares of Ducommun to a “strong-buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group lifted their target price on shares of Ducommun from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Ducommun from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.20.

Insider Activity at Ducommun

In related news, VP Jerry L. Redondo sold 5,682 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $154.36, for a total value of $877,073.52. Following the completion of the sale, the vice president owned 62,034 shares of the company’s stock, valued at $9,575,568.24. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard A. Baldridge sold 10,440 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $130.83, for a total transaction of $1,365,865.20. Following the completion of the sale, the director directly owned 20,100 shares of the company’s stock, valued at approximately $2,629,683. This represents a 34.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,734 shares of company stock valued at $2,476,679 over the last quarter. Corporate insiders own 5.00% of the company’s stock.

About Ducommun

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.