Meros Investment Management LP Cuts Position in Ducommun Incorporated (NYSE:DCO)

Meros Investment Management LP decreased its stake in shares of Ducommun Incorporated (NYSE:DCO) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 205,437 shares of the aerospace company’s stock after selling 1,012 shares during the period. Ducommun accounts for about 6.1% of Meros Investment Management LP’s investment portfolio, making the stock its 2nd biggest holding. Meros Investment Management LP’s holdings in Ducommun were worth $13,524,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its holdings in Ducommun by 52.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,746 shares of the aerospace company’s stock worth $508,000 after buying an additional 3,005 shares during the last quarter. Easterly Investment Partners LLC acquired a new stake in shares of Ducommun in the 2nd quarter worth about $656,000. Bank of New York Mellon Corp lifted its position in 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 valued at $2,954,000 after acquiring an additional 5,359 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Ducommun by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 45,679 shares of the aerospace company’s stock valued at $2,652,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Ducommun by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 23,934 shares of the aerospace company’s stock worth $1,390,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Insider Activity

In other news, CEO Stephen G. Oswald sold 1,200 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $66.32, for a total transaction of $79,584.00. Following the completion of the transaction, the chief executive officer now directly owns 341,151 shares of the company’s stock, valued at $22,625,134.32. This represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Ducommun sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $69.50, for a total transaction of $69,500.00. Following the sale, the director now owns 409,900 shares of the company’s stock, valued at approximately $28,488,050. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.80% of the company’s stock.

Ducommun Stock Performance

Shares of Ducommun stock opened at $62.21 on Wednesday. The business’s fifty day simple moving average is $64.64 and its 200 day simple moving average is $62.49. The company has a current ratio of 3.21, a quick ratio of 2.16 and a debt-to-equity ratio of 0.37. Ducommun Incorporated has a 12 month low of $47.53 and a 12 month high of $70.50. The firm has a market capitalization of $919.40 million, a P/E ratio of 31.26 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DCO shares. Truist Financial raised their target price on Ducommun from $71.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group upgraded Ducommun from a “neutral” rating to a “buy” rating and raised their price objective for the company from $64.00 to $80.00 in a research note on Tuesday, August 13th. Finally, StockNews.com upgraded shares of Ducommun from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $73.00.

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.