Alps Advisors Inc. reduced its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 6.9% during the second quarter, Holdings Channel reports. The firm owned 7,680 shares of the company’s stock after selling 568 shares during the period. Alps Advisors Inc.’s holdings in Dorman Products were worth $439,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Dorman Products during the fourth quarter valued at approximately $7,645,000. Bank of Montreal Can bought a new position in Dorman Products during the second quarter valued at approximately $3,432,000. Royce & Associates LP raised its position in Dorman Products by 3.7% in the first quarter. Royce & Associates LP now owns 1,427,672 shares of the company’s stock valued at $77,694,000 after buying an additional 50,698 shares during the period. GW&K Investment Management LLC raised its position in Dorman Products by 18.3% in the second quarter. GW&K Investment Management LLC now owns 263,355 shares of the company’s stock valued at $15,064,000 after buying an additional 40,739 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Dorman Products by 603.3% in the first quarter. Goldman Sachs Group Inc. now owns 34,607 shares of the company’s stock valued at $1,884,000 after buying an additional 29,686 shares during the period. 76.46% of the stock is currently owned by institutional investors.
Shares of Dorman Products Inc. (NASDAQ:DORM) traded down 0.52% during mid-day trading on Thursday, hitting $63.60. The stock had a trading volume of 69,649 shares. Dorman Products Inc. has a 52 week low of $40.17 and a 52 week high of $67.30. The stock has a market cap of $2.19 billion, a P/E ratio of 22.64 and a beta of 0.76. The stock has a 50-day moving average price of $63.62 and a 200 day moving average price of $57.60.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Dorman Products had a net margin of 11.82% and a return on equity of 18.83%. The firm had revenue of $209.60 million for the quarter, compared to analysts’ expectations of $214.11 million. During the same period in the previous year, the company posted $0.65 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Dorman Products Inc. will post $2.99 EPS for the current fiscal year.
DORM has been the topic of several research reports. Zacks Investment Research lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Jefferies Group raised their price objective on Dorman Products from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, July 27th. Finally, B. Riley reissued a “neutral” rating and issued a $49.50 price objective on shares of Dorman Products in a research report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $60.63.
In other news, Director Paul R. Lederer sold 500 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $62.55, for a total transaction of $31,275.00. Following the transaction, the director now directly owns 34,549 shares in the company, valued at approximately $2,161,039.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jeffery Darby sold 490 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $64.00, for a total transaction of $31,360.00. Following the transaction, the senior vice president now owns 11,990 shares in the company, valued at $767,360. The disclosure for this sale can be found here. Insiders own 11.70% of the company’s stock.
Dorman Products Company Profile
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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