Allspring Global Investments Holdings LLC Makes New $4.32 Million Investment in Ducommun Incorporated $DCO

Key Points

• Allspring Global Investments Holdings LLC has made a new investment in Ducommun Incorporated, acquiring 52,255 shares valued at approximately $4.32 million.
• Recent institutional activity shows significant interest in Ducommun, with several funds increasing their stakes, resulting in 92.15% of the stock held by institutional investors.
• Analysts have upgraded Ducommun's stock, with six recommending a "Buy" and a consensus target price of $97.50, indicating positive market expectations.

Allspring Global Investments Holdings LLC acquired a new position in shares of Ducommun Incorporated (NYSE:DCO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 52,255 shares of the aerospace company's stock, valued at approximately $4,318,000. Allspring Global Investments Holdings LLC owned approximately 0.35% of Ducommun as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DCO. CWM LLC grew its holdings in shares of Ducommun by 27.7% during the 2nd quarter. CWM LLC now owns 687 shares of the aerospace company's stock valued at $57,000 after acquiring an additional 149 shares in the last quarter. Virtus Advisers LLC purchased a new position in shares of Ducommun during the 1st quarter valued at $103,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Ducommun during the 1st quarter valued at $219,000. Arizona State Retirement System grew its holdings in shares of Ducommun by 4.8% during the 1st quarter. Arizona State Retirement System now owns 3,815 shares of the aerospace company's stock valued at $221,000 after acquiring an additional 176 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Ducommun by 26.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 2,900 shares of the aerospace company's stock valued at $240,000 after acquiring an additional 600 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on DCO. Wall Street Zen upgraded shares of Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 10th. Truist Financial lifted their price objective on shares of Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Royal Bank Of Canada lifted their price objective on shares of Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ducommun in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Ducommun to a "hold" rating in a research note on Monday, August 11th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.50.

Ducommun Stock Up 4.0%

Ducommun stock opened at $95.66 on Tuesday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 36.37 and a beta of 1.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17. Ducommun Incorporated has a fifty-two week low of $51.76 and a fifty-two week high of $97.48. The firm has a fifty day moving average price of $92.90 and a two-hundred day moving average price of $80.41.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.08. The firm had revenue of $202.26 million during the quarter, compared to analyst estimates of $199.29 million. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, analysts forecast that Ducommun Incorporated will post 3.21 earnings per share for the current year.

Ducommun 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.

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