Northern Trust Corp increased its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 495,067 shares of the auto parts company’s stock after buying an additional 1,945 shares during the quarter. Northern Trust Corp owned about 1.45% of Dorman Products worth $40,977,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DORM. BlackRock Inc. increased its holdings in Dorman Products by 161,230.6% in the 1st quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock worth $287,394,000 after buying an additional 3,497,091 shares in the last quarter. FMR LLC bought a new stake in Dorman Products in the 1st quarter worth about $29,140,000. Vanguard Group Inc. increased its holdings in Dorman Products by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,806,822 shares of the auto parts company’s stock worth $230,525,000 after buying an additional 127,653 shares in the last quarter. Bank of America Corp DE increased its holdings in Dorman Products by 48.3% in the 1st quarter. Bank of America Corp DE now owns 338,751 shares of the auto parts company’s stock worth $27,822,000 after buying an additional 110,389 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in Dorman Products by 369.3% in the 2nd quarter. Fiera Capital Corp now owns 139,577 shares of the auto parts company’s stock worth $11,553,000 after buying an additional 109,835 shares in the last quarter. Institutional investors own 75.57% of the company’s stock.
Dorman Products, Inc. (DORM) opened at 69.73 on Thursday. Dorman Products, Inc. has a 12 month low of $60.00 and a 12 month high of $88.50. The stock has a market capitalization of $2.37 billion, a PE ratio of 21.19 and a beta of 0.64. The firm has a 50-day moving average price of $69.15 and a 200 day moving average price of $76.65.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.01). The business had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. Equities analysts anticipate that Dorman Products, Inc. will post $3.45 earnings per share for the current year.
In other news, Director Paul R. Lederer sold 1,800 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $74.82, for a total value of $134,676.00. Following the transaction, the director now directly owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.70% of the stock is currently owned by corporate insiders.
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Several equities research analysts recently commented on the company. BidaskClub upgraded Dorman Products from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded Dorman Products from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Finally, FBR & Co reiterated a “mkt perform” rating and issued a $74.50 price objective on shares of Dorman Products in a report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.00.
Dorman Products Company 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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