Irenic Capital Management LP Takes Position in DPC Holdings PLC $DPC

Irenic Capital Management LP purchased a new stake in shares of DPC Holdings PLC (NYSE:DPC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 839,816 shares of the company’s stock, valued at approximately $41,201,000. DPC comprises about 2.0% of Irenic Capital Management LP’s investment portfolio, making the stock its 12th biggest position. Irenic Capital Management LP owned 0.56% of DPC as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tribune Investment Group LP bought a new position in DPC in the 2nd quarter valued at approximately $3,105,000. Wellington Management Group LLP bought a new stake in shares of DPC during the second quarter worth $4,402,000. Finally, SurgoCap Partners LP bought a new stake in shares of DPC during the second quarter worth $31,336,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DPC shares. Wall Street Zen upgraded DPC to a “hold” rating in a research note on Saturday, July 4th. Zacks Research raised DPC to a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada lifted their price target 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 boosted their price target on DPC from $47.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group initiated coverage on DPC in a research note on Monday, July 20th. They issued a “buy” rating and a $56.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.62.

DPC Trading Up 8.7%

Shares of NYSE:DPC opened at $45.16 on Friday. The business’s fifty day simple moving average is $47.53. DPC Holdings PLC has a 52 week low of $37.65 and a 52 week high of $57.25.

DPC (NYSE:DPC) last issued 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 company had revenue of $268.70 million for the quarter. Equities analysts anticipate that DPC Holdings PLC will post 0.45 earnings per share for the current year.

Insider Activity

In related news, Director Nick Sanders purchased 288,213 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was bought at an average price of $33.00 per share, with a total value of $9,511,029.00. Following the completion of the purchase, the director owned 288,213 shares in the company, valued at approximately $9,511,029. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dirkson R. Charles acquired 903,448 shares of the stock in a transaction dated Friday, June 26th. The shares were bought at an average price of $33.00 per share, with a total value of $29,813,784.00. Following the completion of the transaction, the director directly owned 903,448 shares of the company’s stock, valued at $29,813,784. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 2,297,621 shares of company stock worth $75,821,493.

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.