LS Investment Advisors LLC cut its position in Dorman Products, Inc. (NASDAQ:DORM) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,221 shares of the auto parts company’s stock after selling 14 shares during the period. LS Investment Advisors LLC’s holdings in Dorman Products were worth $184,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Dorman Products by 161,230.6% in the first 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 during the period. FMR LLC bought a new stake in shares of Dorman Products during the first quarter worth about $29,140,000. Norges Bank bought a new stake in shares of Dorman Products during the fourth quarter worth about $14,761,000. Bank of New York Mellon Corp increased its stake in shares of Dorman Products by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 542,854 shares of the auto parts company’s stock worth $44,585,000 after buying an additional 134,472 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Dorman Products by 4.8% in the first 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 during the last quarter. 75.86% of the stock is owned by institutional investors and hedge funds.
Shares of Dorman Products, Inc. (NASDAQ DORM) opened at 64.97 on Friday. The company’s 50-day moving average price is $75.44 and its 200 day moving average price is $78.45. Dorman Products, Inc. has a 1-year low of $60.00 and a 1-year high of $88.50. The stock has a market cap of $2.21 billion, a PE ratio of 19.75 and a beta of 0.61.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $229.26 million during the quarter, compared to analysts’ expectations of $225.91 million. Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. Equities analysts forecast that Dorman Products, Inc. will post $3.45 EPS for the current fiscal year.
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A number of brokerages recently issued reports on DORM. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. B. Riley restated a “neutral” rating and set a $74.50 target price on shares of Dorman Products in a report on Monday, May 8th. BidaskClub cut Dorman Products from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, Jefferies Group LLC restated a “hold” rating and set a $85.00 target price (up from $78.00) on shares of Dorman Products in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $81.25.
In related 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 completion of the transaction, the director now owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.70% of the company’s stock.
About Dorman Products
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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