Balyasny Asset Management L.P. Acquires Shares of 4,357 Ducommun Incorporated (NYSE:DCO)

Balyasny Asset Management L.P. bought a new position in shares of Ducommun Incorporated (NYSE:DCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,357 shares of the aerospace company's stock, valued at approximately $277,000.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Ducommun by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,298 shares of the aerospace company's stock valued at $146,000 after purchasing an additional 261 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Ducommun by 804.2% in the fourth quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 386 shares during the period. Tower Research Capital LLC TRC raised its position in Ducommun by 10.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,361 shares of the aerospace company's stock worth $278,000 after buying an additional 414 shares during the last quarter. Bank of New York Mellon Corp increased its position in Ducommun by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 40,454 shares of the aerospace company's stock worth $2,575,000 after purchasing an additional 430 shares during the period. Finally, US Bancorp DE grew its holdings in Ducommun by 49.9% during the fourth quarter. US Bancorp DE now owns 1,327 shares of the aerospace company's stock worth $84,000 after acquiring an additional 442 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Ducommun Trading Down 2.0%

Ducommun stock traded down $1.38 during trading on Wednesday, reaching $67.92. The company had a trading volume of 75,198 shares, compared to its average volume of 76,517. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 34.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.16 and a current ratio of 3.21. The stock's 50 day moving average price is $59.08 and its two-hundred day moving average price is $62.54. Ducommun Incorporated has a 12-month low of $51.76 and a 12-month high of $70.50.

Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.20. Ducommun had a net margin of 3.82% and a return on equity of 7.40%. The firm had revenue of $194.11 million for the quarter, compared to analysts' expectations of $192.30 million. During the same period in the previous year, the company posted $0.70 earnings per share. Ducommun's revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Ducommun from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 7th. Truist Financial set a $76.00 price objective on Ducommun in a research report on Wednesday, May 7th. Finally, B. Riley reissued a "buy" rating on shares of Ducommun in a research report on Wednesday, May 7th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $76.00.

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.