Rice Hall James & Associates LLC Has $16,381,000 Stake in Dorman Products Inc. (DORM)
Rice Hall James & Associates LLC raised its position in shares of Dorman Products Inc. (NASDAQ:DORM) by 33.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 286,384 shares of the company’s stock after buying an additional 71,345 shares during the period. Rice Hall James & Associates LLC’s holdings in Dorman Products were worth $16,381,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. UBS Group AG boosted its position in shares of Dorman Products by 13.5% in the first quarter. UBS Group AG now owns 52,887 shares of the company’s stock worth $2,878,000 after buying an additional 6,283 shares in the last quarter. State Street Corp boosted its position in shares of Dorman Products by 2.0% in the first quarter. State Street Corp now owns 525,985 shares of the company’s stock worth $28,625,000 after buying an additional 10,422 shares in the last quarter. Huntington Asset Advisors Inc. acquired a new position in shares of Dorman Products during the first quarter worth about $775,000. Royce & Associates LP boosted its position in shares of Dorman Products by 3.7% in the first quarter. Royce & Associates LP now owns 1,427,672 shares of the company’s stock worth $77,694,000 after buying an additional 50,698 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Dorman Products by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 741,026 shares of the company’s stock worth $40,327,000 after buying an additional 14,637 shares in the last quarter. Hedge funds and other institutional investors own 76.46% of the company’s stock.
Shares of Dorman Products Inc. (NASDAQ:DORM) traded up 0.35% during mid-day trading on Tuesday, reaching $63.85. 161,809 shares of the company’s stock traded hands. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 22.73 and a beta of 0.76. Dorman Products Inc. has a 12-month low of $40.17 and a 12-month high of $67.30. The firm’s 50 day moving average price is $63.49 and its 200-day moving average price is $57.44.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ 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 business earned $209.60 million during the quarter, compared to analyst estimates of $214.11 million. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that Dorman Products Inc. will post $2.99 earnings per share for the current year.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. B. Riley restated a “neutral” rating and set a $49.50 price target on shares of Dorman Products in a report on Monday, August 1st. Finally, Jefferies Group boosted their price target on shares of Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $60.63.
In related news, Director Paul R. Lederer sold 500 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $62.55, for a total value of $31,275.00. Following the completion of the transaction, the director now directly owns 34,549 shares in the company, valued at approximately $2,161,039.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffery Darby sold 490 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $64.00, for a total transaction of $31,360.00. Following the completion of the transaction, the senior vice president now owns 11,990 shares of the company’s stock, valued at $767,360. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by company insiders.
About Dorman Products
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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