Ducommun (NYSE:DCO) Sets New 12-Month High – Here’s What Happened

Ducommun Incorporated (NYSE:DCO) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $156.38 and last traded at $155.6630, with a volume of 249096 shares traded. The stock had previously closed at $150.04.

Analyst Upgrades and Downgrades

DCO has been the subject of several recent analyst reports. Truist Financial lifted their price objective on Ducommun from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group raised their target price on shares of Ducommun from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Wall Street Zen cut shares of Ducommun from a “buy” rating to a “hold” rating in a research report on Monday, May 25th. Citigroup raised their price objective on shares of Ducommun from $141.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, B. Riley Financial increased their target price on Ducommun from $155.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Ducommun presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Ducommun Trading Up 3.7%

The firm’s 50 day moving average price is $140.96 and its 200-day moving average price is $121.00. The stock has a market cap of $2.35 billion, a P/E ratio of -65.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59.

Ducommun (NYSE:DCO) last announced its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. The company had revenue of $209.02 million during the quarter, compared to the consensus estimate of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 earnings per share. As a group, equities research analysts forecast that Ducommun Incorporated will post 4.07 earnings per share for the current year.

Insider Transactions at Ducommun

In related news, VP Jerry L. Redondo sold 5,682 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $154.36, for a total transaction of $877,073.52. Following the transaction, the vice president owned 62,034 shares in the company, valued at $9,575,568.24. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Laureen S. Gonzalez sold 589 shares of Ducommun stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $151.99, for a total transaction of $89,522.11. Following the completion of the sale, the vice president directly owned 11,172 shares of the company’s stock, valued at approximately $1,698,032.28. This trade represents a 5.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,883 shares of company stock worth $1,200,336 over the last three months. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Ducommun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new position in shares of Ducommun in the third quarter worth about $1,163,000. Thornburg Investment Management Inc. purchased a new stake in Ducommun in the 3rd quarter worth approximately $12,953,000. Aberdeen Group plc increased its holdings in Ducommun by 7.2% in the 4th quarter. Aberdeen Group plc now owns 218,433 shares of the aerospace company’s stock worth $20,780,000 after acquiring an additional 14,721 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Ducommun by 248.9% during the fourth quarter. SG Americas Securities LLC now owns 30,799 shares of the aerospace company’s stock valued at $2,930,000 after purchasing an additional 21,972 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Ducommun by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 842,368 shares of the aerospace company’s stock worth $80,134,000 after purchasing an additional 19,143 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Ducommun

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.