Verdence Capital Advisors LLC Makes New Investment in Ducommun Incorporated $DCO

Key Points

• Verdence Capital Advisors LLC acquired a new stake in Ducommun Incorporated, purchasing 3,253 shares valued at approximately $269,000 in the second quarter.
• Several institutional investors, including GAMMA Investing LLC and the Teacher Retirement System of Texas, significantly increased their holdings in Ducommun, indicating strong interest in the stock.
• Ducommun reported earnings of $0.88 per share, surpassing analyst expectations, with a revenue of $202.26 million for the quarter, reflecting a 2.7% increase year-over-year.

Verdence Capital Advisors LLC purchased a new stake in Ducommun Incorporated (NYSE:DCO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,253 shares of the aerospace company's stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Ducommun by 5,623.8% in the 1st quarter. GAMMA Investing LLC now owns 8,414 shares of the aerospace company's stock valued at $488,000 after acquiring an additional 8,267 shares in the last quarter. Rhumbline Advisers raised its stake in Ducommun by 4.7% in the first quarter. Rhumbline Advisers now owns 23,912 shares of the aerospace company's stock valued at $1,388,000 after purchasing an additional 1,081 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Ducommun by 49.2% in the first quarter. Teacher Retirement System of Texas now owns 74,576 shares of the aerospace company's stock valued at $4,328,000 after purchasing an additional 24,585 shares in the last quarter. Arizona State Retirement System raised its stake in Ducommun by 4.8% in the first quarter. Arizona State Retirement System now owns 3,815 shares of the aerospace company's stock valued at $221,000 after purchasing an additional 176 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Ducommun by 25.0% in the first quarter. New York State Common Retirement Fund now owns 20,012 shares of the aerospace company's stock valued at $1,161,000 after purchasing an additional 3,998 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Ducommun Stock Down 1.1%

Shares of NYSE:DCO opened at $91.88 on Friday. Ducommun Incorporated has a 52-week low of $51.76 and a 52-week high of $97.48. The company has a fifty day moving average of $92.73 and a 200-day moving average of $79.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.17 and a current ratio of 3.24. The company has a market capitalization of $1.37 billion, a PE ratio of 34.93 and a beta of 1.38.

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

Analyst Ratings Changes

Several brokerages have recently commented on DCO. Citigroup restated a "buy" rating and issued a $101.00 target price (up from $91.00) on shares of Ducommun in a research report on Monday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Ducommun from $95.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Zacks Research upgraded shares of Ducommun to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen raised Ducommun from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 10th. Finally, The Goldman Sachs Group boosted their price target on Ducommun from $84.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Ducommun presently has an average rating of "Moderate Buy" and an average target price 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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