Ducommun Incorporated (NYSE:DCO) Shares Sold 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 position in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,464 shares of the aerospace company's stock after selling 5,022 shares during the period. Ducommun accounts for 6.5% of Meros Investment Management LP's investment portfolio, making the stock its biggest holding. Meros Investment Management LP owned approximately 1.28% of Ducommun worth $11,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of Ducommun by 804.2% during the fourth 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 during the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Ducommun during the fourth quarter valued at about $78,000. Central Pacific Bank Trust Division raised its position in shares of Ducommun by 200.0% during the first quarter. Central Pacific Bank Trust Division now owns 1,500 shares of the aerospace company's stock valued at $87,000 after buying an additional 1,000 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Ducommun during the fourth quarter valued at about $98,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Ducommun during the fourth quarter valued at about $106,000. Institutional investors and hedge funds own 92.15% of the company's stock.

Ducommun Price Performance

DCO opened at $91.24 on Friday. Ducommun Incorporated has a one year low of $51.76 and a one year high of $94.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17. The company's 50 day simple moving average is $85.73 and its 200-day simple moving average is $70.09. The stock has a market capitalization of $1.36 billion, a P/E ratio of 34.69 and a beta of 1.38.

Ducommun (NYSE:DCO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The business had revenue of $202.26 million for the quarter, compared to analysts' expectations of $199.29 million. During the same period in the prior year, the firm earned $0.52 earnings per share. Ducommun's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. B. Riley reissued a "buy" rating on shares of Ducommun in a research note on Wednesday, May 7th. Citigroup reissued a "buy" rating and issued a $101.00 target price (up previously from $91.00) on shares of Ducommun in a research note on Monday, July 14th. Wall Street Zen raised shares of Ducommun from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 10th. Finally, Zacks Research raised shares of Ducommun to a "hold" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $97.50.

About Ducommun

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.

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