Penn Capital Management Company LLC Purchases 72,630 Shares of Ducommun Incorporated $DCO

Key Points

• Penn Capital Management increased its Ducommun stake by 591.6% in the second quarter, buying 72,630 shares for a total holding of 84,906 shares valued at approximately $15.8 million. Institutional investors collectively own 92.15% of the company.
• Ducommun exceeded quarterly expectations, reporting earnings per share of $1.18 versus the $0.98 estimate and revenue of $224.49 million, up 11% year over year. Analysts expect full-year EPS of approximately $4.26.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $192.60; however, CEO Stephen G. Oswald recently sold 5,766 shares for about $1.16 million.

Penn Capital Management Company LLC grew its position in Ducommun Incorporated (NYSE:DCO - Free Report) by 591.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 84,906 shares of the aerospace company's stock after buying an additional 72,630 shares during the period. Penn Capital Management Company LLC owned 0.56% of Ducommun worth $15,754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ducommun by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,184 shares of the aerospace company's stock valued at $6,146,000 after acquiring an additional 2,435 shares during the period. Van ECK Associates Corp increased its position in Ducommun by 68.4% in the second quarter. Van ECK Associates Corp now owns 427,603 shares of the aerospace company's stock worth $79,196,000 after purchasing an additional 173,616 shares during the period. Hsbc Holdings PLC increased its position in Ducommun by 66.2% in the second quarter. Hsbc Holdings PLC now owns 21,760 shares of the aerospace company's stock worth $4,055,000 after purchasing an additional 8,669 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Ducommun during the 2nd quarter worth about $33,000. Finally, Corient Private Wealth LP bought a new stake in Ducommun during the 2nd quarter worth about $279,000. Institutional investors own 92.15% of the company's stock.

Ducommun Price Performance

Shares of DCO opened at $175.42 on Friday. The stock has a market cap of $2.65 billion, a P/E ratio of -93.81 and a beta of 1.04. Ducommun Incorporated has a 1 year low of $84.76 and a 1 year high of $210.39. The stock's 50-day moving average price is $182.33 and its two-hundred day moving average price is $153.18. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39.

Ducommun (NYSE:DCO - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $224.49 million during the quarter, compared to analysts' expectations of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.Ducommun's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, equities analysts predict that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Insider Transactions at Ducommun

In other Ducommun news, CEO Stephen G. Oswald sold 5,766 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $201.15, for a total value of $1,159,830.90. Following the completion of the sale, the chief executive officer owned 385,875 shares of the company's stock, valued at approximately $77,618,756.25. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

DCO has been the topic of several recent research reports. Zacks Research raised shares of Ducommun from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Wall Street Zen raised shares of Ducommun from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their price objective on shares of Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a report on Friday, August 7th. Weiss Ratings cut shares of Ducommun from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Ducommun in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.60.

Ducommun Company Profile

Ducommun Incorporated, through its Electronics and Structures segments, provides engineered products and integrated systems for the global aerospace, defense and space markets. The Electronics segment focuses on high-reliability electronic assemblies, cable and wire harnesses, connector systems and harsh environment electronics for flight-critical applications. In the Structures segment, Ducommun manufactures complex metallic and composite components such as flight control surfaces, skin panels, heat exchangers and other aerostructures for commercial and military platforms.

Founded in 1849 in California as a hardware and stagecoach parts supplier, Ducommun expanded into aerospace manufacturing during World War II and has since grown its capabilities through targeted acquisitions and organic investments.

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