Kornitzer Capital Management Inc. KS Purchases New Position in Dorman Products, Inc. $DORM

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 40,065 shares of the auto parts company’s stock, valued at approximately $6,245,000. Kornitzer Capital Management Inc. KS owned about 0.13% of Dorman Products as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of DORM. TD Private Client Wealth LLC boosted its position in shares of Dorman Products by 5.9% during the third quarter. TD Private Client Wealth LLC now owns 1,457 shares of the auto parts company’s stock valued at $227,000 after buying an additional 81 shares during the last quarter. Private Trust Co. NA boosted its holdings in Dorman Products by 101.2% during the third quarter. Private Trust Co. NA now owns 165 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 83 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Dorman Products by 0.9% during the third quarter. Nisa Investment Advisors LLC now owns 9,539 shares of the auto parts company’s stock worth $1,487,000 after acquiring an additional 86 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Dorman Products by 0.4% in the second quarter. New York State Teachers Retirement System now owns 24,835 shares of the auto parts company’s stock worth $3,047,000 after acquiring an additional 94 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Dorman Products by 2.6% in the second quarter. Corient Private Wealth LLC now owns 3,842 shares of the auto parts company’s stock valued at $471,000 after purchasing an additional 99 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Stock Down 0.7%

DORM opened at $124.29 on Wednesday. The business’s fifty day simple moving average is $127.08 and its 200 day simple moving average is $138.23. Dorman Products, Inc. has a 52 week low of $106.95 and a 52 week high of $166.89. The company has a quick ratio of 1.19, a current ratio of 2.94 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.80 billion, a PE ratio of 15.48 and a beta of 0.91.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Monday, October 27th. The auto parts company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.31. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.The business had revenue of $543.74 million for the quarter, compared to analyst estimates of $548.60 million. During the same period last year, the company earned $1.96 EPS. Dorman Products’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Dorman Products

In other Dorman Products news, SVP Donna M. Long sold 812 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $123.75, for a total transaction of $100,485.00. Following the transaction, the senior vice president directly owned 17,856 shares of the company’s stock, valued at approximately $2,209,680. The trade was a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Mcknight sold 2,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $128.80, for a total transaction of $257,600.00. Following the completion of the sale, the insider directly owned 9,112 shares in the company, valued at $1,173,625.60. This represents a 18.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DORM. Stephens initiated coverage on Dorman Products in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 target price for the company. Zacks Research downgraded shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorman Products in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $180.50.

About Dorman Products

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.