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

Key Points

• Diamond Hill Capital Management reduced its Ducommun stake by 5.7% in the fourth quarter, selling 8,545 shares and ending with 141,757 shares valued at about $13.5 million.
• Wall Street sentiment is positive, with several analysts raising price targets and ratings; Ducommun now has a consensus Moderate Buy rating and an average target of $159.20.
• Ducommun reported stronger-than-expected quarterly results, posting EPS of $0.75 on revenue of $209.0 million, beating estimates and lifting revenue 7.7% year over year.

Diamond Hill Capital Management Inc. trimmed its stake in Ducommun Incorporated (NYSE:DCO - Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,757 shares of the aerospace company's stock after selling 8,545 shares during the period. Diamond Hill Capital Management Inc. owned 0.95% of Ducommun worth $13,485,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in shares of Ducommun by 6,725.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 273 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 valued at $29,000 after acquiring an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Ducommun in the 3rd quarter valued at approximately $63,000. State of Alaska Department of Revenue bought a new position in shares of Ducommun in the 3rd quarter valued at approximately $79,000. Finally, Danske Bank A S bought a new position in shares of Ducommun in the 4th quarter valued at approximately $111,000. 92.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price target on Ducommun from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Wall Street Zen raised Ducommun from a "hold" rating to a "buy" rating in a research report on Sunday, May 17th. Citigroup raised their price target on Ducommun from $141.00 to $167.00 and gave the company a "buy" rating in a research report on Monday. B. Riley Financial raised their price target on Ducommun from $155.00 to $187.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Finally, Truist Financial raised Ducommun to a "strong-buy" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ducommun has a consensus rating of "Moderate Buy" and a consensus price target of $159.20.

Ducommun Stock Up 0.8%

NYSE DCO opened at $144.11 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.59 and a current ratio of 3.67. The firm has a 50-day simple moving average of $135.47 and a 200 day simple moving average of $116.40. Ducommun Incorporated has a twelve month low of $66.24 and a twelve month high of $156.32. The stock has a market cap of $2.17 billion, a PE ratio of -61.06 and a beta of 1.06.

Ducommun (NYSE:DCO - Get Free Report) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. The business had revenue of $209.02 million during the quarter, compared to analysts' expectations of $199.61 million. During the same quarter last year, the company earned $0.83 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Ducommun Incorporated will post 4.16 EPS for the current year.

Insider Activity at Ducommun

In related news, VP Jerry L. Redondo sold 5,682 shares of the stock in a transaction dated 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 in the company, valued at approximately $9,575,568.24. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock in a transaction dated 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 owned 20,100 shares of the company's stock, valued at approximately $2,629,683. The trade was a 34.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 17,734 shares of company stock worth $2,476,679. Company insiders own 5.00% of the company's stock.

Ducommun 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.

Want to see what other hedge funds are holding DCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ducommun Incorporated (NYSE:DCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.