Allspring Global Investments Holdings LLC Sells 10,212 Shares of Ducommun Incorporated $DCO

Allspring Global Investments Holdings LLC lessened its stake in Ducommun Incorporated (NYSE:DCO) by 20.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,150 shares of the aerospace company’s stock after selling 10,212 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ducommun were worth $4,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DCO. EverSource Wealth Advisors LLC raised its stake in shares of Ducommun by 618.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 345 shares of the aerospace company’s stock valued at $29,000 after buying an additional 297 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Ducommun by 16.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 759 shares of the aerospace company’s stock valued at $72,000 after purchasing an additional 107 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Ducommun in the 4th quarter worth approximately $95,000. Danske Bank A S purchased a new stake in shares of Ducommun in the fourth quarter valued at about $111,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Ducommun during the 4th quarter worth approximately $118,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ducommun

In other Ducommun news, VP Rajiv A. Tata sold 1,612 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $145.00, for a total transaction of $233,740.00. Following the sale, the vice president owned 33,171 shares in the company, valued at $4,809,795. This represents a 4.63% 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 Laureen S. Gonzalez sold 589 shares of the stock in a transaction that occurred 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 transaction, the vice president directly owned 11,172 shares in the company, valued at approximately $1,698,032.28. This represents a 5.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,883 shares of company stock valued at $1,200,336 over the last three months. 5.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DCO. Truist Financial lifted their target price on Ducommun from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Ducommun from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Citigroup raised their price objective on Ducommun from $167.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. B. Riley Financial boosted their price objective on Ducommun from $155.00 to $187.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada downgraded Ducommun from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $155.00 to $175.00 in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.80.

Ducommun Stock Up 0.7%

Shares of Ducommun stock opened at $176.78 on Friday. The business has a 50-day moving average of $163.60 and a 200-day moving average of $139.47. Ducommun Incorporated has a 1-year low of $84.76 and a 1-year high of $196.63. The company has a market capitalization of $2.67 billion, a PE ratio of -74.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.67 and a quick ratio of 2.59.

Ducommun (NYSE:DCO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $209.02 million during the quarter, compared to analyst estimates of $199.61 million. Ducommun had a negative net margin of 4.11% and a positive return on equity of 8.41%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. As a group, equities analysts forecast that Ducommun Incorporated will post 4.07 EPS for the current fiscal year.

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.