Van ECK Associates Corp Boosts Stake in Ducommun Incorporated $DCO

Key Points

• Van ECK Associates increased its Ducommun stake by 68.4% in the second quarter, owning 427,603 shares valued at approximately $79.2 million. Institutional investors collectively own 92.15% of the company.
• Analysts remain broadly positive, with Ducommun receiving a “Moderate Buy” consensus rating and an average price target of $192.60. Truist raised its target to $209, while Zacks upgraded the stock to “Strong Buy.”
• Ducommun’s latest quarterly results exceeded expectations, with EPS of $1.18 versus the $0.98 consensus and revenue of $224.49 million, up 11% year over year. The stock opened at $175.42, down 4.6%, after trading between $84.76 and $210.39 over the past year.

Van ECK Associates Corp lifted its holdings in shares of Ducommun Incorporated (NYSE:DCO - Free Report) by 68.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,603 shares of the aerospace company's stock after buying an additional 173,616 shares during the period. Van ECK Associates Corp owned approximately 2.83% of Ducommun worth $79,196,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Parvin Asset Management LLC boosted its holdings in shares of Ducommun by 8.9% during the 1st quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company's stock valued at $163,000 after acquiring an additional 110 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Ducommun by 3.8% in the third quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company's stock worth $311,000 after purchasing an additional 117 shares during the last quarter. Allworth Financial LP bought a new stake in Ducommun in the 2nd quarter worth approximately $26,000. Ameriprise Financial Inc. grew its position in Ducommun by 2.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company's stock worth $657,000 after purchasing an additional 153 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Ducommun by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company's stock valued at $414,000 after buying an additional 155 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial raised their price target on Ducommun from $150.00 to $209.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Zacks Research raised Ducommun from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Citigroup reissued a "buy" rating on shares of Ducommun in a research report on Wednesday, August 12th. B. Riley Financial restated a "buy" rating on shares of Ducommun in a research note on Friday, August 7th. Finally, Royal Bank Of Canada upped their price target on shares of Ducommun from $175.00 to $200.00 and gave the company a "sector performer" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Ducommun currently has an average rating of "Moderate Buy" and a consensus target price of $192.60.

Insider Activity at Ducommun

In other news, CEO Stephen G. Oswald sold 5,766 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total value of $1,159,830.90. Following the transaction, the chief executive officer owned 385,875 shares of the company's stock, valued at $77,618,756.25. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.

Ducommun Trading Down 4.6%

NYSE:DCO opened at $175.42 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.38. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -93.81 and a beta of 1.04. Ducommun Incorporated has a one year low of $84.76 and a one year high of $210.39. The business has a fifty day moving average price of $182.33 and a 200-day moving average price of $153.18.

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

Ducommun 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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