Wellington Management Group LLP Buys Shares of 89,719 DPC Holdings PLC $DPC

Key Points

• Institutional interest increased: Wellington Management Group bought 89,719 DPC shares worth approximately $4.4 million, while SurgoCap Partners acquired a new $31.3 million position during the second quarter.
• Insiders made substantial purchases: DPC insiders bought 2.3 million shares valued at roughly $75.8 million over the past 90 days, including major purchases by the CFO and a director.
• Earnings fell short of expectations: DPC reported quarterly EPS of $0.05 versus the $0.08 consensus estimate, although analysts maintain a “Moderate Buy” consensus with an average price target of $57.62.

Wellington Management Group LLP bought a new position in DPC Holdings PLC (NYSE:DPC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 89,719 shares of the company's stock, valued at approximately $4,402,000. Wellington Management Group LLP owned 0.06% of DPC as of its most recent filing with the Securities & Exchange Commission.

Separately, SurgoCap Partners LP acquired a new position in shares of DPC in the 2nd quarter valued at $31,336,000.

DPC Stock Performance

DPC opened at $40.40 on Thursday. The firm has a 50-day moving average price of $47.13. DPC Holdings PLC has a 1 year low of $37.65 and a 1 year high of $57.25.

DPC (NYSE:DPC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $268.70 million during the quarter. On average, analysts expect that DPC Holdings PLC will post 0.45 EPS for the current fiscal year.

Insider Activity at DPC

In other DPC news, CFO David John Egan acquired 275,363 shares of the stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $33.00 per share, for a total transaction of $9,086,979.00. Following the completion of the acquisition, the chief financial officer directly owned 294,529 shares of the company's stock, valued at approximately $9,719,457. This trade represents a 1,436.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dirkson R. Charles acquired 903,448 shares of the business's stock in a transaction dated Friday, June 26th. The stock was acquired at an average cost of $33.00 per share, for a total transaction of $29,813,784.00. Following the transaction, the director owned 903,448 shares of the company's stock, valued at $29,813,784. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 2,297,621 shares of company stock worth $75,821,493.

Analyst Ratings Changes

A number of research firms have issued reports on DPC. Royal Bank Of Canada boosted their target price on DPC from $53.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their price objective on DPC from $47.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Rothschild & Co Redburn began coverage on DPC in a research report on Monday, July 20th. They issued a "buy" rating and a $53.50 price objective for the company. Wall Street Zen raised DPC to a "hold" rating in a research note on Saturday, July 4th. Finally, Zacks Research upgraded shares of DPC to a "hold" rating in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.62.

DPC Profile

DPC Holdings is a manufacturer of engineered engine products which include complex precision cast components and nickel- and cobalt-based superalloys primarily serving Aerospace and IGT end markets. DPC Holdings is based in United Kingdom.

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