Nuveen LLC Makes New $5.10 Million Investment in Ducommun Incorporated $DCO

Key Points

• Nuveen LLC has made a new investment of approximately $5.10 million in Ducommun Incorporated, acquiring 87,826 shares, which constitutes about 0.59% of the company.
• In addition to Nuveen, several large investors, including Vanguard Group and Royal Bank of Canada, have increased their stakes in Ducommun recently, indicating strong institutional interest in the company.
• Ducommun's latest quarterly earnings surpassed expectations, reporting $0.88 per share against an estimated $0.80, while its revenue increased by 2.7% year-over-year.

Nuveen LLC bought a new stake in Ducommun Incorporated (NYSE:DCO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 87,826 shares of the aerospace company's stock, valued at approximately $5,097,000. Nuveen LLC owned 0.59% of Ducommun as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DCO. Vanguard Group Inc. grew its position in shares of Ducommun by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 767,398 shares of the aerospace company's stock worth $44,532,000 after purchasing an additional 18,436 shares in the last quarter. Royal Bank of Canada grew its position in shares of Ducommun by 8.1% during the 4th quarter. Royal Bank of Canada now owns 361,373 shares of the aerospace company's stock worth $23,005,000 after purchasing an additional 27,068 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Ducommun by 41.9% during the 4th quarter. Wellington Management Group LLP now owns 193,741 shares of the aerospace company's stock worth $12,334,000 after purchasing an additional 57,172 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Ducommun by 7.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 173,248 shares of the aerospace company's stock worth $10,054,000 after purchasing an additional 11,263 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ducommun by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 146,133 shares of the aerospace company's stock worth $8,480,000 after purchasing an additional 3,561 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Ducommun Stock Performance

NYSE DCO opened at $93.86 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 35.69 and a beta of 1.38. The firm's 50 day simple moving average is $87.84 and its 200 day simple moving average is $71.24. Ducommun Incorporated has a 1 year low of $51.76 and a 1 year high of $95.93.

Ducommun (NYSE:DCO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $199.29 million. During the same quarter last year, the business posted $0.52 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts expect that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup restated a "buy" rating and set a $101.00 target price (up previously from $91.00) on shares of Ducommun in a research report on Monday, July 14th. Truist Financial increased their target price on shares of Ducommun from $87.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen upgraded shares of Ducommun from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 10th. Zacks Research upgraded shares of Ducommun to a "hold" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada increased their price target 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. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.50.

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.

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