Diamond Hill Capital Management LLC Investment Advisor Invests $22.81 Million in Ducommun Incorporated $DCO

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Ducommun Incorporated (NYSE:DCO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 123,157 shares of the aerospace company’s stock, valued at approximately $22,810,000. Diamond Hill Capital Management LLC Investment Advisor owned about 0.82% of Ducommun as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DCO. Alliancebernstein L.P. lifted its stake in shares of Ducommun by 1,993.3% in the second quarter. Alliancebernstein L.P. now owns 302,969 shares of the aerospace company’s stock valued at $25,034,000 after buying an additional 288,496 shares during the period. Loomis Sayles & Co. L P bought a new position in Ducommun during the fourth quarter valued at about $26,028,000. Millennium Management LLC raised its holdings in Ducommun by 267.3% in the 4th quarter. Millennium Management LLC now owns 116,872 shares of the aerospace company’s stock valued at $11,118,000 after acquiring an additional 85,056 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Ducommun by 79.7% in the 4th quarter. Van ECK Associates Corp now owns 186,835 shares of the aerospace company’s stock worth $17,774,000 after acquiring an additional 82,859 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of Ducommun by 839.7% in the 3rd quarter. Two Sigma Investments LP now owns 72,740 shares of the aerospace company’s stock worth $6,992,000 after acquiring an additional 64,999 shares during the period. Institutional investors own 92.15% of the company’s stock.

Insiders Place Their Bets

In other news, VP Laureen S. Gonzalez sold 589 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $151.99, for a total value of $89,522.11. Following the completion of the sale, the vice president directly owned 11,172 shares in the company, valued at approximately $1,698,032.28. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Rajiv A. Tata sold 1,612 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $145.00, for a total value of $233,740.00. Following the completion of the sale, the vice president owned 33,171 shares of the company’s stock, valued at approximately $4,809,795. This trade represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 7,967 shares of company stock valued at $1,483,093. 5.00% of the stock is currently owned by corporate insiders.

Ducommun Stock Performance

NYSE:DCO opened at $206.54 on Monday. Ducommun Incorporated has a 1 year low of $84.76 and a 1 year high of $210.39. The firm has a 50 day moving average of $176.57 and a 200-day moving average of $148.23. The company has a current ratio of 3.36, a quick ratio of 2.38 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $3.12 billion, a P/E ratio of -110.45 and a beta of 1.04.

Ducommun (NYSE:DCO) last released its quarterly earnings results on Thursday, August 6th. The aerospace company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $224.49 million for the quarter, compared to analyst estimates of $214.32 million. During the same period in the prior year, the company earned $0.88 EPS. Ducommun’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Ducommun Incorporated will post 4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Ducommun in a report on Monday, August 10th. Royal Bank Of Canada raised their price objective on shares of Ducommun from $175.00 to $200.00 and gave the stock a “sector performer” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Ducommun from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup reissued a “buy” rating on shares of Ducommun in a research note on Wednesday. Finally, Weiss Ratings lowered shares of Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Ducommun currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.60.

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.