Pitcairn Co. increased its holdings in Dorman Products Inc. (NASDAQ:DORM) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,034 shares of the auto parts company’s stock after buying an additional 257 shares during the period. Pitcairn Co.’s holdings in Dorman Products were worth $338,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in DORM. Norges Bank purchased a new stake in shares of Dorman Products in the 4th quarter worth about $10,689,000. Boston Trust Walden Corp grew its position in Dorman Products by 18.6% in the first quarter. Boston Trust Walden Corp now owns 393,633 shares of the auto parts company’s stock valued at $21,756,000 after acquiring an additional 61,598 shares in the last quarter. State Street Corp grew its position in Dorman Products by 6.5% in the first quarter. State Street Corp now owns 885,914 shares of the auto parts company’s stock valued at $48,964,000 after acquiring an additional 53,944 shares in the last quarter. Aviva PLC grew its position in Dorman Products by 163.1% in the first quarter. Aviva PLC now owns 69,178 shares of the auto parts company’s stock valued at $3,823,000 after acquiring an additional 42,886 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Dorman Products by 8.6% during the 1st quarter. Invesco Ltd. now owns 315,192 shares of the auto parts company’s stock valued at $17,420,000 after buying an additional 24,929 shares during the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.
In related news, SVP Jeffery Darby sold 1,624 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $83.31, for a total transaction of $135,295.44. Following the transaction, the senior vice president now directly owns 16,229 shares in the company, valued at $1,352,037.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.10% of the company’s stock.
Several research firms have recently commented on DORM. Stephens increased their target price on Dorman Products from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Zacks Investment Research cut Dorman Products from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. BidaskClub upgraded Dorman Products from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, ValuEngine cut Dorman Products from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.50.
Shares of DORM opened at $81.75 on Friday. The business’s fifty day moving average price is $68.67 and its 200 day moving average price is $66.36. Dorman Products Inc. has a 12-month low of $44.49 and a 12-month high of $84.22. The stock has a market capitalization of $2.69 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.80 and a beta of 0.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.89.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Dorman Products had a return on equity of 9.57% and a net margin of 7.67%. The firm had revenue of $233.20 million for the quarter, compared to analysts’ expectations of $201.07 million. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, research analysts anticipate that Dorman Products Inc. will post 2.47 earnings per share for the current fiscal year.
Dorman Products Profile
Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.
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