Orchard Capital Management LLC Buys New Position in Ducommun Incorporated $DCO

by · The Cerbat Gem

Orchard Capital Management LLC purchased a new position in Ducommun Incorporated (NYSE:DCO – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,718 shares of the aerospace company’s stock, valued at approximately $4,393,000. Ducommun comprises about 4.3% of Orchard Capital Management LLC’s holdings, making the stock its 5th largest holding.

A number of other hedge funds also recently made changes to their positions in DCO. Parvin Asset Management LLC grew its position in Ducommun by 8.9% in the first quarter. Parvin Asset Management LLC now owns 1,340 shares of the aerospace company’s stock worth $163,000 after acquiring an additional 110 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Ducommun by 3.8% during the third quarter. Envestnet Asset Management Inc. now owns 3,236 shares of the aerospace company’s stock valued at $311,000 after purchasing an additional 117 shares in the last quarter. Allworth Financial LP purchased a new stake in Ducommun during the second quarter valued at about $26,000. Ameriprise Financial Inc. lifted its stake in 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 last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Ducommun by 3.2% in the 2nd 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 in the last quarter. 92.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. B. Riley Financial reiterated a “buy” rating on shares of Ducommun in a research report on Friday, August 7th. Zacks Research upgraded Ducommun from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Citigroup reiterated a “buy” rating on shares of Ducommun in a research report on Wednesday, August 12th. Truist Financial lifted their price target on shares of Ducommun from $150.00 to $209.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Ducommun from $175.00 to $200.00 and gave the stock a “sector performer” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ducommun currently has a consensus rating of “Moderate Buy” and an average target price of $192.60.

View Our Latest Stock Report on Ducommun

Ducommun Trading Up 1.3%

Shares of DCO stock opened at $191.61 on Friday. The stock has a market capitalization of $2.89 billion, a PE ratio of -102.46 and a beta of 1.04. Ducommun Incorporated has a 1-year low of $84.76 and a 1-year high of $210.39. The business has a 50-day moving average of $180.55 and a 200 day moving average of $150.99. 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 (NYSE:DCO – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $214.32 million. Ducommun had a positive return on equity of 9.20% and a negative net margin of 3.10%.The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, sell-side analysts anticipate that Ducommun Incorporated will post 4.26 earnings per share for the current year.

Insiders Place Their Bets

In other Ducommun news, VP Laureen S. Gonzalez sold 589 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $151.99, for a total value of $89,522.11. Following the sale, the vice president owned 11,172 shares of the company’s stock, valued at $1,698,032.28. This trade represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen G. Oswald sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $203.95, for a total transaction of $509,875.00. Following the transaction, the chief executive officer directly owned 383,864 shares of the company’s stock, valued at approximately $78,289,062.80. This trade represents a 0.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,855 shares of company stock valued at $1,759,228 over the last quarter. 5.00% of the stock is currently owned by company insiders.

About Ducommun

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ducommun Incorporated (NYSE:DCO – Free Report).