Allspring Global Investments Holdings LLC Trims Stock Position in Ducommun Incorporated $DCO

Key Points

• Allspring Global Investments cut its stake in Ducommun (NYSE:DCO) by 25.3% in Q4, selling 16,714 shares and ending the period with 49,362 shares (about 0.33% of the company) valued at roughly $4.7 million.
• Q4 results and outlook: Ducommun reported $1.05 EPS vs. $0.91 expected and revenue of $215.8M (up 9.4% YoY but slightly below consensus), while analysts maintain a "Moderate Buy" consensus with a $139.75 average price target.
• Insider and institutional activity: Director Richard A. Baldridge sold 10,440 shares for about $1.37M, trimming his position by 34%, insiders own ~5% of the stock and institutional investors hold roughly 92%.

Allspring Global Investments Holdings LLC cut its stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,362 shares of the aerospace company's stock after selling 16,714 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.33% of Ducommun worth $4,696,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DCO. Cornerstone Planning Group LLC raised its position in Ducommun by 6,725.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 273 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Ducommun by 618.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock worth $29,000 after buying an additional 297 shares during the period. Financial Consulate Inc. purchased a new stake in shares of Ducommun in the 3rd quarter worth $48,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Ducommun in the 3rd quarter worth $63,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Ducommun in the 3rd quarter worth $79,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Ducommun Stock Performance

Shares of Ducommun stock opened at $134.41 on Wednesday. The company has a market capitalization of $2.01 billion, a PE ratio of -58.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.47 and a current ratio of 3.50. The company has a 50-day simple moving average of $124.36 and a two-hundred day simple moving average of $106.21. Ducommun Incorporated has a one year low of $52.65 and a one year high of $140.02.

Ducommun (NYSE:DCO - Get Free Report) last posted its earnings results on Thursday, February 26th. The aerospace company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.14. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.47%. The company had revenue of $215.80 million during the quarter, compared to analysts' expectations of $217.42 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. Ducommun's revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts expect that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DCO shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ducommun in a research note on Monday, December 29th. Wall Street Zen lowered shares of Ducommun from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup lowered their price objective on shares of Ducommun from $143.00 to $141.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Truist Financial increased their price objective on shares of Ducommun from $124.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Ducommun in a research note on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ducommun currently has an average rating of "Moderate Buy" and a consensus price target of $139.75.

Insider Buying and Selling at Ducommun

In other news, Director Richard A. Baldridge sold 10,440 shares of the firm's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $130.83, for a total value of $1,365,865.20. Following the completion of the sale, the director owned 20,100 shares of the company's stock, valued at $2,629,683. This trade represents a 34.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is owned by insiders.

Ducommun Company 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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