Bank of New York Mellon Corp Invests $8.13 Million in Ducommun Incorporated $DCO

Key Points

• Bank of New York Mellon acquired 43,899 Ducommun shares valued at approximately $8.13 million, taking a 0.29% stake. Institutional investors collectively own 92.15% of DCO.
• Ducommun exceeded quarterly expectations, reporting $1.18 EPS versus the $0.98 consensus estimate and revenue of $224.49 million, up 11% year over year.
• Analyst sentiment is positive, with a consensus “Moderate Buy” rating and an average price target of $192.60; however, CEO Stephen Oswald recently sold 2,500 shares for about $509,875.

Bank of New York Mellon Corp bought a new stake in shares of Ducommun Incorporated (NYSE:DCO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 43,899 shares of the aerospace company's stock, valued at approximately $8,131,000. Bank of New York Mellon Corp owned approximately 0.29% of Ducommun at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DCO. Optiver Holding B.V. purchased a new stake in Ducommun in the first quarter valued at approximately $27,000. State of Wyoming purchased a new position in shares of Ducommun during the first quarter worth $35,000. EverSource Wealth Advisors LLC lifted its position in Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 297 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Ducommun in the first quarter valued at $56,000. Finally, KBC Group NV purchased a new stake in Ducommun in the first quarter valued at $71,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ducommun

In other Ducommun news, CEO Stephen Oswald sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $203.95, for a total value of $509,875.00. Following the sale, the chief executive officer directly owned 383,864 shares in the company, valued at $78,289,062.80. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.00% of the company's stock.

Ducommun Trading Up 0.4%

Shares of DCO opened at $166.33 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $182.50 and a 200 day moving average price of $154.70. Ducommun Incorporated has a 12-month low of $84.76 and a 12-month high of $210.39. The firm has a market capitalization of $2.51 billion, a P/E ratio of -88.95 and a beta of 1.04.

Ducommun (NYSE:DCO - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Sell-side analysts forecast that Ducommun Incorporated will post 4.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Ducommun from $150.00 to $209.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Ducommun in a report on Monday, August 10th. Wall Street Zen upgraded shares of Ducommun from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Zacks Research raised shares of Ducommun from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded Ducommun from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.60.

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.

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