Yahoo Finance Should You Sell Ducommun (DCO)?
Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 1.61% compared to 5.18% for the Russell 2000 Index and 2.90% for the Russell 2000 Value Index. The first quarter of calendar year 2024 was mostly more of the recent same. US investors focused on the Federal Reserve’s comments and still expecting interest rate cuts in 2024. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Cove Street Small Cap Value Fund featured stocks like Ducommun Incorporated (NYSE:DCO) in the first quarter 2024 investor letter. Headquartered in Santa Ana, California, Ducommun Incorporated (NYSE:DCO) provides engineering and manufacturing services to the aerospace, defense, industrial, and medical industries. On April 10, 2024, Ducommun Incorporated (NYSE:DCO) stock closed at $55.61 per share. One-month return of Ducommun Incorporated (NYSE:DCO) was 10.49%, and its shares gained 4.18% of their value over the last 52 weeks. Ducommun Incorporated (NYSE:DCO) has a market capitalization of $814.197 million.
Cove Street Small Cap Value Fund stated the following regarding Ducommun Incorporated (NYSE:DCO) in its first quarter 2024 investor letter:
"We sold our position in Ducommun Incorporated (NYSE:DCO) this quarter. We like the aerospace and defense world and think the company has a solid conceptual runway to participate in niche programs on both sides of the industry. But we have concluded we just cannot stomach the management team, which refuses to recognize quaint ideas like “value creation PER SHARE,” the generation of free cashflow vs. a focus on revenue growth, and the idea that shareholders are partners that deserve transparent financials with which to judge performance and progress."
A commercial jetliner, flying high against the backdrop of a dramatic sunrise.
Ducommun Incorporated (NYSE:DCO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Ducommun Incorporated (NYSE:DCO) was held by 11 hedge fund portfolios, compared to 11 in the previous quarter, according to our database.
We discussed Ducommun Incorporated (NYSE:DCO) in another article and shared the list of best small-cap defense stocks to invest in. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
