Public Employees Retirement System of Ohio reduced its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,870 shares of the auto parts company’s stock after selling 23,207 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.34% of Dorman Products worth $9,425,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. YorkBridge Wealth Partners LLC grew its stake in shares of Dorman Products by 3.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock worth $115,000 after purchasing an additional 41 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Dorman Products in the second quarter worth $117,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Dorman Products by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock worth $119,000 after purchasing an additional 118 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of Dorman Products by 10.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock worth $120,000 after purchasing an additional 139 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Dorman Products by 10.3% in the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock worth $159,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.
Dorman Products, Inc. (NASDAQ DORM) opened at 72.74 on Friday. Dorman Products, Inc. has a 1-year low of $60.00 and a 1-year high of $88.50. The stock has a 50 day moving average price of $70.16 and a 200 day moving average price of $76.27. The company has a market cap of $2.47 billion, a PE ratio of 22.11 and a beta of 0.64.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.01). Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The business had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that Dorman Products, Inc. will post $3.45 earnings per share for the current year.
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DORM has been the subject of several recent analyst reports. Zacks Investment Research cut Dorman Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, FBR & Co reissued a “mkt perform” rating and issued a $74.50 price target on shares of Dorman Products in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Dorman Products presently has a consensus rating of “Hold” and a consensus target price of $78.00.
In other news, Director Paul R. Lederer sold 1,800 shares of Dorman Products stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.82, for a total value of $134,676.00. Following the completion of the sale, the director now directly owns 16,961 shares of the company’s stock, valued at approximately $1,269,022.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.70% of the stock is currently owned by company insiders.
Dorman Products Profile
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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