Ducommun (NYSE:DCO) Sets New 52-Week High – Here’s What Happened

Ducommun Incorporated (NYSE:DCO) reached a new 52-week high on Wednesday . The company traded as high as $102.15 and last traded at $101.69, with a volume of 2843 shares trading hands. The stock had previously closed at $101.04.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen cut Ducommun from a “strong-buy” rating to a “buy” rating in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ducommun in a report on Monday, December 29th. Zacks Research raised shares of Ducommun from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Finally, Citigroup started coverage on shares of Ducommun in a research report on Thursday, December 11th. They set a “buy” rating and a $110.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.75.

Ducommun Stock Performance

The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -43.84 and a beta of 1.07. The company has a current ratio of 2.04, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $92.83 and its 200-day moving average is $91.62.

Ducommun (NYSE:DCO) last posted its earnings results on Thursday, November 6th. The aerospace company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $212.56 million for the quarter, compared to analysts’ expectations of $211.41 million. Ducommun had a negative net margin of 4.29% and a positive return on equity of 7.70%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. On average, analysts predict that Ducommun Incorporated will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Ducommun news, VP Jerry L. Redondo sold 2,000 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $92.86, for a total value of $185,720.00. Following the completion of the transaction, the vice president directly owned 65,269 shares in the company, valued at approximately $6,060,879.34. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in Ducommun by 3.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock valued at $311,000 after buying an additional 117 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Ducommun by 0.9% during the second quarter. Panagora Asset Management Inc. now owns 13,027 shares of the aerospace company’s stock valued at $1,076,000 after acquiring an additional 119 shares during the last quarter. CWM LLC lifted its holdings in shares of Ducommun by 27.7% during the second quarter. CWM LLC now owns 687 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 149 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of 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 purchasing an additional 153 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of 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. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.