Orchard Capital Management LLC Invests $4.39 Million in Ducommun Incorporated $DCO

Orchard Capital Management LLC bought a new stake in Ducommun Incorporated (NYSE:DCO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,718 shares of the aerospace company’s stock, valued at approximately $4,393,000. Ducommun comprises approximately 4.3% of Orchard Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Orchard Capital Management LLC owned about 0.16% of Ducommun at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DCO. Parvin Asset Management LLC lifted its position in shares of Ducommun by 8.9% during the 1st quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company’s stock worth $163,000 after buying an additional 110 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ducommun by 3.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock valued at $311,000 after acquiring an additional 117 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Ducommun during the second quarter valued at approximately $26,000. Ameriprise Financial Inc. lifted its holdings in Ducommun by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 6,836 shares of the aerospace company’s stock worth $657,000 after acquiring an additional 153 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Ducommun by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 5,014 shares of the aerospace company’s stock worth $414,000 after purchasing an additional 155 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on DCO. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ducommun in a research report on Monday, August 10th. Citigroup restated a “buy” rating on shares of Ducommun in a report on Wednesday, August 12th. Zacks Research raised shares of Ducommun from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Weiss Ratings cut shares of Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Ducommun from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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. Based on data from MarketBeat, Ducommun currently has an average rating of “Moderate Buy” and a consensus price target of $192.60.

Ducommun Stock Performance

Shares of DCO stock opened at $191.61 on Friday. The stock has a market capitalization of $2.89 billion, a P/E ratio of -102.46 and a beta of 1.04. 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 firm’s 50 day moving average is $180.55 and its 200 day moving average is $150.99. Ducommun Incorporated has a 12 month low of $84.76 and a 12 month high of $210.39.

Ducommun (NYSE:DCO) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. Ducommun had a negative net margin of 3.10% and a positive return on equity of 9.20%. The business had revenue of $224.49 million during the quarter, compared to analyst estimates of $214.32 million. During the same period in the previous year, the business earned $0.88 EPS. Ducommun’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Insider Activity

In related news, VP Laureen S. Gonzalez sold 589 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the completion of the transaction, the vice president owned 11,172 shares of the company’s stock, valued at approximately $1,698,032.28. The trade was a 5.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen G. Oswald sold 5,766 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $201.15, for a total transaction of $1,159,830.90. Following the completion of the sale, the chief executive officer owned 385,875 shares in the company, valued at $77,618,756.25. This represents a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 8,855 shares of company stock valued at $1,759,228. 5.00% of the stock is owned by corporate insiders.

Ducommun Company Profile

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.