Municipal Employees Retirement System of Michigan Has $887,000 Holdings in Dorman Products, Inc. (DORM)

Municipal Employees Retirement System of Michigan increased its position in Dorman Products, Inc. (NASDAQ:DORM) by 51.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,390 shares of the auto parts company’s stock after buying an additional 4,230 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Dorman Products were worth $887,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. New York State Common Retirement Fund lifted its holdings in shares of Dorman Products by 10.3% in the third quarter. New York State Common Retirement Fund now owns 40,720 shares of the auto parts company’s stock valued at $2,916,000 after buying an additional 3,795 shares during the period. Sei Investments Co. lifted its holdings in shares of Dorman Products by 21.4% in the third quarter. Sei Investments Co. now owns 17,925 shares of the auto parts company’s stock valued at $1,284,000 after buying an additional 3,156 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Dorman Products by 60.8% in the third quarter. BNP Paribas Arbitrage SA now owns 15,792 shares of the auto parts company’s stock valued at $1,131,000 after buying an additional 5,974 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Dorman Products by 14.1% in the third quarter. Alps Advisors Inc. now owns 6,862 shares of the auto parts company’s stock valued at $491,000 after buying an additional 848 shares during the period. Finally, Telemus Capital LLC lifted its holdings in shares of Dorman Products by 2.1% in the third quarter. Telemus Capital LLC now owns 38,694 shares of the auto parts company’s stock valued at $2,771,000 after buying an additional 801 shares during the period. Institutional investors and hedge funds own 75.56% of the company’s stock.

DORM has been the subject of several research analyst reports. Zacks Investment Research lowered Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. BidaskClub lowered Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, August 18th. FBR & Co restated a “neutral” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a report on Monday, October 30th. B. Riley restated a “neutral” rating and issued a $65.00 price objective (down previously from $75.00) on shares of Dorman Products in a report on Wednesday, November 1st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $75.00 price objective on shares of Dorman Products in a report on Sunday, October 29th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Dorman Products currently has a consensus rating of “Hold” and an average price target of $68.33.

Shares of Dorman Products, Inc. (NASDAQ DORM) opened at $68.41 on Friday. Dorman Products, Inc. has a fifty-two week low of $62.64 and a fifty-two week high of $88.50. The company has a market capitalization of $2,306.92, a price-to-earnings ratio of 20.67, a PEG ratio of 1.86 and a beta of 0.60.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Friday, October 27th. The auto parts company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.07). Dorman Products had a net margin of 12.53% and a return on equity of 18.32%. The company had revenue of $224.60 million for the quarter, compared to analysts’ expectations of $233.56 million. During the same period in the prior year, the company earned $0.77 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. sell-side analysts predict that Dorman Products, Inc. will post 3.34 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for Dorman Products (NASDAQ:DORM)

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