KLP Kapitalforvaltning AS Raises Position in Ducommun Incorporated $DCO

KLP Kapitalforvaltning AS increased its stake in shares of Ducommun Incorporated (NYSE:DCO) by 26.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,900 shares of the aerospace company’s stock after purchasing an additional 600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Ducommun were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DCO. Nuveen LLC purchased a new position in shares of Ducommun during the first quarter valued at approximately $5,097,000. LPL Financial LLC purchased a new position in shares of Ducommun during the first quarter valued at approximately $5,052,000. Vident Advisory LLC purchased a new position in shares of Ducommun during the first quarter valued at approximately $2,769,000. AMH Equity Ltd purchased a new position in shares of Ducommun during the first quarter valued at approximately $1,567,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Ducommun by 49.2% during the first quarter. Teacher Retirement System of Texas now owns 74,576 shares of the aerospace company’s stock valued at $4,328,000 after purchasing an additional 24,585 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Ducommun Stock Performance

DCO opened at $95.66 on Tuesday. The firm has a market cap of $1.43 billion, a P/E ratio of 36.37 and a beta of 1.38. Ducommun Incorporated has a 1-year low of $51.76 and a 1-year high of $97.48. The company has a 50 day simple moving average of $92.90 and a two-hundred day simple moving average of $80.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.24 and a quick ratio of 2.17.

Ducommun (NYSE:DCO) last posted its quarterly earnings results on Thursday, August 7th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. Ducommun had a net margin of 5.03% and a return on equity of 7.61%. The business had revenue of $202.26 million during the quarter, compared to analyst estimates of $199.29 million. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Ducommun Incorporated will post 3.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DCO. Zacks Research raised shares of Ducommun to a “hold” rating in a report on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ducommun in a report on Wednesday, October 8th. Truist Financial upped their target price on shares of Ducommun from $87.00 to $95.00 and gave the company a “buy” rating in a report on Friday, July 11th. The Goldman Sachs Group upped their target price on shares of Ducommun from $84.00 to $94.00 and gave the company a “buy” rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada upped their target price on shares of Ducommun from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.50.

About Ducommun

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.