Foundry Partners LLC Lowers Holdings in Ducommun Incorporated (NYSE:DCO)

Foundry Partners LLC trimmed its position in Ducommun Incorporated (NYSE:DCO) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,639 shares of the aerospace company’s stock after selling 13,553 shares during the quarter. Foundry Partners LLC owned 0.75% of Ducommun worth $6,366,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Arizona State Retirement System purchased a new stake in shares of Ducommun in the 2nd quarter worth $202,000. Rhumbline Advisers lifted its holdings in shares of Ducommun by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 23,934 shares of the aerospace company’s stock worth $1,390,000 after buying an additional 1,067 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Ducommun by 4.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 45,679 shares of the aerospace company’s stock worth $2,652,000 after buying an additional 2,000 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Ducommun by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 50,875 shares of the aerospace company’s stock worth $2,954,000 after buying an additional 5,359 shares during the period. Finally, Easterly Investment Partners LLC bought a new position in shares of Ducommun in the 2nd quarter worth $656,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Ducommun Stock Up 0.6 %

NYSE:DCO traded up $0.38 during mid-day trading on Friday, hitting $62.67. 2,038 shares of the company’s stock traded hands, compared to its average volume of 80,334. The company has a fifty day moving average of $61.73 and a 200 day moving average of $56.61. Ducommun Incorporated has a twelve month low of $42.31 and a twelve month high of $66.13. The company has a market capitalization of $922.25 million, a P/E ratio of 52.43 and a beta of 1.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.97 and a current ratio of 3.06.

Ducommun (NYSE:DCO) last announced its earnings results on Thursday, August 8th. The aerospace company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.20. Ducommun had a return on equity of 6.79% and a net margin of 2.95%. The company had revenue of $197.00 million for the quarter, compared to analyst estimates of $194.57 million. During the same period in the prior year, the company posted $0.54 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Ducommun Incorporated will post 2.93 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on DCO shares. The Goldman Sachs Group raised Ducommun from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $64.00 to $80.00 in a research report on Tuesday, August 13th. Truist Financial reissued a “buy” rating and issued a $72.00 price target (up from $65.00) on shares of Ducommun in a research report on Friday, August 9th. Finally, StockNews.com raised Ducommun from a “hold” rating to a “buy” rating in a research report on Saturday, August 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $71.00.

Insider Activity at Ducommun

In related news, CEO Stephen G. Oswald sold 2,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $58.23, for a total transaction of $116,460.00. Following the transaction, the chief executive officer now directly owns 347,539 shares of the company’s stock, valued at approximately $20,237,195.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Jerry L. Redondo sold 3,300 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $60.69, for a total value of $200,277.00. Following the transaction, the vice president now directly owns 63,826 shares of the company’s stock, valued at $3,873,599.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen G. Oswald sold 2,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $58.23, for a total value of $116,460.00. Following the completion of the transaction, the chief executive officer now directly owns 347,539 shares in the company, valued at $20,237,195.97. The disclosure for this sale can be found here. Insiders have sold 6,070 shares of company stock valued at $366,171 in the last ninety days. Corporate insiders own 8.80% of the company’s stock.

Ducommun Profile

Ducommun Incorporated provides engineering and manufacturing services for products and applications used primarily in the aerospace and defense, industrial, medical, and other industries in the United States. The company operates through two segments, Electronic Systems and Structural Systems. The Electronic Systems segment provides cable assemblies and interconnect systems; printed circuit board assemblies; electronic, electromechanical, and mechanical components and assemblies, as well as lightning diversion systems; and radar enclosures, aircraft avionics racks, shipboard communications and control enclosures, printed circuit board assemblies, cable assemblies, wire harnesses, interconnect systems, lightning diversion strips, surge suppressors, conformal shields, and other assemblies.