California State Teachers Retirement System Sells 2,552 Shares of Ducommun Incorporated $DCO

Key Points

• California State Teachers Retirement System reduced its Ducommun stake by 14.2%, selling 2,552 shares and retaining 15,433 shares worth approximately $2.86 million. Institutional investors collectively own 92.15% of the company.
• Ducommun reported quarterly EPS of $1.18, beating estimates of $0.98, while revenue rose 11% year over year to $224.49 million, above the $214.32 million consensus.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $192.60, compared with the reported share price of $163.60.

California State Teachers Retirement System lowered its holdings in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,433 shares of the aerospace company's stock after selling 2,552 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Ducommun worth $2,858,346 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in Ducommun during the second quarter worth $55,000. Susquehanna Fundamental Investments LLC boosted its position in Ducommun by 185.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 7,585 shares of the aerospace company's stock valued at $1,405,000 after purchasing an additional 4,932 shares during the period. Moore Capital Management LP acquired a new stake in Ducommun during the second quarter valued at approximately $44,236,000. Sigma Planning Corp acquired a new position in Ducommun in the 2nd quarter worth about $201,000. Finally, Penn Capital Management Company LLC increased its holdings in shares of Ducommun by 591.6% during the 2nd quarter. Penn Capital Management Company LLC now owns 84,906 shares of the aerospace company's stock worth $15,754,000 after purchasing an additional 72,630 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Ducommun Stock Down 0.5%

Shares of NYSE DCO traded down $0.90 during trading hours on Tuesday, hitting $163.60. The company had a trading volume of 139,936 shares, compared to its average volume of 220,857. The stock has a market capitalization of $2.47 billion, a P/E ratio of -87.48 and a beta of 1.04. The company has a quick ratio of 2.38, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. Ducommun Incorporated has a 1-year low of $84.76 and a 1-year high of $210.39. The firm's 50 day moving average is $180.07 and its 200-day moving average is $156.81.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The business 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 quarter in the previous year, the business earned $0.88 EPS. On average, analysts expect that Ducommun Incorporated will post 4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DCO. Citigroup reiterated a "buy" rating on shares of Ducommun in a report on Wednesday, August 12th. Wall Street Zen upgraded Ducommun from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research raised Ducommun from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Weiss Ratings upgraded Ducommun from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 1st. Finally, Royal Bank Of Canada lifted their price objective on Ducommun from $175.00 to $200.00 and gave the stock a "sector performer" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $192.60.

Insider Buying and Selling at Ducommun

In related news, CEO Stephen Oswald sold 2,500 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total transaction of $509,875.00. Following the sale, the chief executive officer owned 383,864 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.

About Ducommun

Ducommun Incorporated is a diversified manufacturing company that provides engineered products and production services primarily for the aerospace and defense industries. The company supplies components and assemblies used in commercial aircraft, military platforms, space systems and other specialized applications.

Ducommun's Electronic Systems business produces electronic and electromechanical assemblies, interconnect systems, high-reliability components, RF and microwave products, and other systems used in avionics, communications, radar and defense applications.

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.