Paradigm Capital Management Inc. NY Sells 66,900 Shares of Ducommun Incorporated $DCO

Key Points

• Paradigm Capital Management Inc. decreased its stake in Ducommun Incorporated by 6.2%, now holding approximately 1,017,200 shares valued at $59 million, making it the fund's 9th largest position.
• Ducommun reported better-than-expected earnings, with $0.88 earnings per share and revenue of $202.26 million for the last quarter, exceeding analyst expectations.
• Brokerages have increased price targets for Ducommun, with Royal Bank of Canada raising its target from $95 to $100, reflecting a positive outlook on the company’s performance.

Paradigm Capital Management Inc. NY decreased its position in Ducommun Incorporated (NYSE:DCO - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,017,200 shares of the aerospace company's stock after selling 66,900 shares during the quarter. Ducommun accounts for about 3.3% of Paradigm Capital Management Inc. NY's holdings, making the stock its 9th biggest holding. Paradigm Capital Management Inc. NY owned 6.84% of Ducommun worth $59,028,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC grew its position in Ducommun by 4.9% in the 4th quarter. Rafferty Asset Management LLC now owns 3,481 shares of the aerospace company's stock valued at $222,000 after buying an additional 164 shares during the last quarter. Arizona State Retirement System boosted its position 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 worth $221,000 after purchasing an additional 176 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ducommun by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,731 shares of the aerospace company's stock worth $492,000 after purchasing an additional 247 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Ducommun by 0.9% during the 1st quarter. Martingale Asset Management L P now owns 35,286 shares of the aerospace company's stock worth $2,048,000 after purchasing an additional 301 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DCO shares. The Goldman Sachs Group boosted their target price on shares of Ducommun from $84.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada boosted their price objective on shares of Ducommun from $95.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. B. Riley restated a "buy" rating on shares of Ducommun in a report on Wednesday, May 7th. Truist Financial upped their target price on shares of Ducommun from $87.00 to $95.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Citigroup restated a "buy" rating and issued a $101.00 target price (up from $91.00) on shares of Ducommun in a report on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $97.50.

Ducommun Trading Down 0.9%

DCO traded down $0.85 on Wednesday, reaching $90.11. 115,774 shares of the company's stock were exchanged, compared to its average volume of 110,513. The company's 50 day moving average is $89.06 and its 200-day moving average is $72.29. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 34.26 and a beta of 1.41. Ducommun Incorporated has a twelve month low of $51.76 and a twelve month high of $95.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.17 and a current ratio of 3.24.

Ducommun (NYSE:DCO - Get Free Report) last posted its earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) 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 the consensus estimate of $199.29 million. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The company's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. Equities analysts predict that Ducommun Incorporated will post 3.21 earnings per share for the current year.

Ducommun Company 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.