Meros Investment Management LP Makes New $21.93 Billion Investment in Ducommun Incorporated $DCO

Meros Investment Management LP bought a new position in Ducommun Incorporated (NYSE:DCO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 118,423 shares of the aerospace company’s stock, valued at approximately $21,933,124,000. Ducommun makes up about 7.0% of Meros Investment Management LP’s portfolio, making the stock its biggest position.

A number of other institutional investors have also made changes to their positions in the company. Allworth Financial LP acquired a new stake in shares of Ducommun during the 2nd quarter valued at approximately $26,000. Optiver Holding B.V. acquired a new position in Ducommun in the first quarter worth $27,000. EverSource Wealth Advisors LLC increased its stake in Ducommun by 618.8% during the second quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 297 shares during the last quarter. State of Wyoming acquired a new stake in shares of Ducommun during the first quarter worth $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Ducommun during the first quarter worth $56,000. 92.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Stephen G. Oswald sold 2,500 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total value of $509,875.00. Following the completion of the transaction, the chief executive officer owned 383,864 shares in the company, valued at $78,289,062.80. This represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Laureen S. Gonzalez sold 589 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $151.99, for a total transaction of $89,522.11. Following the transaction, the vice president directly owned 11,172 shares in the company, valued at approximately $1,698,032.28. The trade was a 5.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,855 shares of company stock valued at $1,759,228 in the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Ducommun from $175.00 to $200.00 and gave the stock a “sector performer” rating in a research report on Friday, August 7th. Citigroup reiterated a “buy” rating on shares of Ducommun in a research note on Wednesday, August 12th. Weiss Ratings downgraded Ducommun from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Zacks Research upgraded Ducommun from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Ducommun in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.60.

Ducommun Stock Down 1.4%

Shares of Ducommun stock opened at $181.32 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 2.38. Ducommun Incorporated has a 1-year low of $84.76 and a 1-year high of $210.39. The business’s fifty day moving average price is $181.29 and its two-hundred day moving average price is $152.12. The company has a market capitalization of $2.74 billion, a P/E ratio of -96.96 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Ducommun Incorporated will post 4.26 EPS for the current year.

Ducommun 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.