Dorman Products Inc. (DORM) Trading Up 8.4%
Dorman Products Inc. (NASDAQ:DORM)’s share price was up 8.4% during trading on Tuesday . The company traded as high as $61.71 and last traded at $61.35, with a volume of 248,442 shares. The stock had previously closed at $56.58.
A number of equities analysts have recently commented on DORM shares. Zacks Investment Research lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. FBR & Co reiterated an “outperform” rating and set a $62.00 price target on shares of Dorman Products in a report on Saturday, May 14th. Finally, B. Riley reiterated a “neutral” rating and set a $45.00 price target on shares of Dorman Products in a report on Monday, May 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Dorman Products presently has a consensus rating of “Hold” and a consensus price target of $55.75.
The firm has a market cap of $2.11 billion and a P/E ratio of 22.46. The company has a 50-day moving average price of $55.40 and a 200 day moving average price of $51.51.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Equities research analysts forecast that Dorman Products Inc. will post $2.93 EPS for the current year.
In related news, Director Paul R. Lederer sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $53.00, for a total value of $198,750.00. Following the transaction, the director now owns 33,494 shares in the company, valued at approximately $1,775,182. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Edgar W. Levin sold 2,750 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $54.91, for a total transaction of $151,002.50. Following the completion of the transaction, the director now owns 60,081 shares in the company, valued at approximately $3,299,047.71. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of DORM. Jennison Associates increased its position in shares of Dorman Products by 2,091.4% in the third quarter. Jennison Associates now owns 312,008 shares of the company’s stock valued at $15,878,000 after buying an additional 297,770 shares during the period. American Capital Management Inc. raised its stake in Dorman Products by 129.0% in the fourth quarter. American Capital Management Inc. now owns 259,495 shares of the company’s stock valued at $12,318,000 after buying an additional 146,170 shares in the last quarter. Wells Fargo & Company MN raised its stake in Dorman Products by 23.2% in the fourth quarter. Wells Fargo & Company MN now owns 182,027 shares of the company’s stock valued at $8,641,000 after buying an additional 34,246 shares in the last quarter. First Trust Advisors LP raised its stake in Dorman Products by 42.0% in the fourth quarter. First Trust Advisors LP now owns 37,677 shares of the company’s stock valued at $1,789,000 after buying an additional 11,151 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Dorman Products by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 203,273 shares of the company’s stock valued at $9,649,000 after buying an additional 8,149 shares in the last quarter.
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 140,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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