Ducommun Incorporated $DCO Stock Holdings Cut by Meros Investment Management LP

Key Points

• Meros Investment Management LP reduced its position in Ducommun shares by 2.6%, now holding 190,464 shares, making it the largest holding in their portfolio.
• Ducommun reported a quarterly earnings per share (EPS) of $0.88, exceeding analysts' expectations of $0.80, with a revenue of $202.26 million.
• Wall Street analysts remain optimistic, with a consensus rating of "Buy" and a price target raised to $97.50.

Meros Investment Management LP decreased its holdings in Ducommun Incorporated (NYSE:DCO - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,464 shares of the aerospace company's stock after selling 5,022 shares during the quarter. Ducommun comprises approximately 6.5% of Meros Investment Management LP's portfolio, making the stock its biggest position. Meros Investment Management LP owned 1.28% of Ducommun worth $11,053,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DCO. Rafferty Asset Management LLC increased its holdings in shares of Ducommun by 4.9% during the fourth quarter. Rafferty Asset Management LLC now owns 3,481 shares of the aerospace company's stock valued at $222,000 after acquiring an additional 164 shares in the last quarter. Arizona State Retirement System boosted its position in Ducommun by 4.8% in the first 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ducommun by 3.3% in the fourth 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 during the last quarter. Sterling Capital Management LLC lifted its position in shares of Ducommun by 804.2% during the 4th quarter. Sterling Capital Management LLC now owns 434 shares of the aerospace company's stock valued at $28,000 after buying an additional 386 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted 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 valued at $278,000 after buying an additional 414 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DCO. Citigroup reissued a "buy" rating and set a $101.00 target price (up previously from $91.00) on shares of Ducommun in a research note on Monday, July 14th. The Goldman Sachs Group increased their price target on Ducommun from $84.00 to $94.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Wall Street Zen raised Ducommun from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 10th. Royal Bank Of Canada upped their price objective on Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Truist Financial upped their target price on Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Ducommun currently has an average rating of "Moderate Buy" and an average price target of $97.50.

Ducommun Stock Performance

Shares of DCO stock traded up $1.73 during mid-day trading on Thursday, reaching $89.53. The stock had a trading volume of 34,163 shares, compared to its average volume of 99,151. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 34.02 and a beta of 1.38. Ducommun Incorporated has a 1-year low of $51.76 and a 1-year high of $94.00. The business's fifty day moving average is $86.64 and its 200-day moving average is $70.52. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.31.

Ducommun (NYSE:DCO - Get Free Report) last posted its earnings results on Thursday, August 7th. The aerospace company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. The firm had revenue of $202.26 million for the quarter, compared to analyst estimates of $199.29 million. Ducommun had a return on equity of 7.61% and a net margin of 5.03%.Ducommun's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. On average, research analysts forecast that Ducommun Incorporated will post 3.21 earnings per share for the current year.

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.