Alliancebernstein L.P. Acquires New Position in Ducommun Incorporated (DCO)
Alliancebernstein L.P. acquired a new stake in Ducommun Incorporated (NYSE:DCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,000 shares of the aerospace company’s stock, valued at approximately $221,000. Alliancebernstein L.P. owned 0.06% of Ducommun at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Wilen Investment Management CORP. increased its stake in shares of Ducommun by 0.3% in the second quarter. Wilen Investment Management CORP. now owns 32,818 shares of the aerospace company’s stock valued at $1,017,000 after buying an additional 100 shares during the period. American International Group Inc. increased its position in Ducommun by 7.1% during the 1st quarter. American International Group Inc. now owns 6,398 shares of the aerospace company’s stock valued at $184,000 after purchasing an additional 422 shares during the period. Bank of New York Mellon Corp increased its position in Ducommun by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 50,027 shares of the aerospace company’s stock valued at $1,580,000 after purchasing an additional 882 shares during the period. Wellington Management Group LLP increased its position in Ducommun by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 79,861 shares of the aerospace company’s stock valued at $2,299,000 after purchasing an additional 2,000 shares during the period. Finally, Royce & Associates LP increased its position in Ducommun by 1.7% during the 2nd quarter. Royce & Associates LP now owns 144,213 shares of the aerospace company’s stock valued at $4,554,000 after purchasing an additional 2,400 shares during the period. 81.07% of the stock is owned by institutional investors.
In related news, CEO Stephen G. Oswald acquired 10,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were acquired at an average cost of $27.39 per share, for a total transaction of $273,900.00. Following the purchase, the chief executive officer now owns 65,700 shares in the company, valued at $1,799,523. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony J. Reardon sold 7,726 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $27.66, for a total value of $213,701.16. Following the transaction, the director now owns 123,523 shares in the company, valued at $3,416,646.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,701 shares of company stock worth $1,237,582. 8.20% of the stock is owned by company insiders.
Ducommun Incorporated (DCO) opened at $25.81 on Monday. Ducommun Incorporated has a twelve month low of $24.23 and a twelve month high of $35.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.46 and a quick ratio of 1.06. The stock has a market capitalization of $292.38, a price-to-earnings ratio of 18.84 and a beta of 0.87.
Ducommun (NYSE:DCO) last issued its earnings results on Wednesday, November 1st. The aerospace company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Ducommun had a return on equity of 7.20% and a net margin of 2.40%. The company had revenue of $138.70 million for the quarter, compared to analysts’ expectations of $143.72 million. During the same period last year, the business earned $0.44 EPS. Ducommun’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts predict that Ducommun Incorporated will post 0.59 earnings per share for the current year.
A number of research firms have weighed in on DCO. ValuEngine downgraded shares of Ducommun from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of Ducommun from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research report on Friday, August 4th. B. Riley set a $40.00 target price on shares of Ducommun and gave the company a “buy” rating in a research report on Monday, October 30th. Canaccord Genuity increased their price target on Ducommun from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, Noble Financial restated a “hold” rating on shares of Ducommun in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.75.
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Ducommun Incorporated is a global provider of engineering and manufacturing services for various products and failure applications used primarily in the aerospace, defense, industrial, natural resources, medical and other industries. The Company is a solution-based provider, offering a range of value-added products and services in its primary businesses of electronics, structures and integrated solutions.
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