BTIM Corp. Sells 86,576 Shares of Dorman Products, Inc. (DORM)
BTIM Corp. decreased its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 18.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 392,389 shares of the auto parts company’s stock after selling 86,576 shares during the period. BTIM Corp.’s holdings in Dorman Products were worth $32,478,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of DORM. FTB Advisors Inc. boosted its position in shares of Dorman Products by 7.7% in the first quarter. FTB Advisors Inc. now owns 1,260 shares of the auto parts company’s stock worth $104,000 after buying an additional 90 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Dorman Products by 7.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,349 shares of the auto parts company’s stock worth $116,000 after buying an additional 98 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Dorman Products by 10.3% in the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock worth $159,000 after buying an additional 180 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Dorman Products by 91.8% in the first quarter. LS Investment Advisors LLC now owns 2,235 shares of the auto parts company’s stock worth $184,000 after buying an additional 1,070 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Dorman Products during the first quarter worth approximately $188,000. 77.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dorman Products, Inc. (NASDAQ DORM) traded up 0.08% during mid-day trading on Thursday, reaching $77.42. The company had a trading volume of 20,084 shares. The stock has a market capitalization of $2.65 billion, a P/E ratio of 24.12 and a beta of 0.63. The firm has a 50 day moving average of $80.10 and a 200-day moving average of $77.87. Dorman Products, Inc. has a one year low of $56.10 and a one year high of $88.50.
Dorman Products (NASDAQ:DORM) last released its earnings results on Tuesday, May 2nd. The auto parts company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.06. The company had revenue of $221.60 million for the quarter, compared to the consensus estimate of $224.16 million. Dorman Products had a return on equity of 18.79% and a net margin of 12.66%. Dorman Products’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. Analysts forecast that Dorman Products, Inc. will post $3.47 EPS for the current fiscal year.
A number of research analysts have recently commented on the company. B. Riley reaffirmed a “neutral” rating and set a $74.50 price target on shares of Dorman Products in a research report on Monday, May 8th. FBR & Co reissued a “mkt perform” rating and set a $74.50 price objective on shares of Dorman Products in a report on Tuesday. Zacks Investment Research cut Dorman Products from a “hold” rating to a “sell” rating in a report on Monday, July 10th. BidaskClub cut Dorman Products from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $85.00 price objective (up previously from $78.00) on shares of Dorman Products in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $81.25.
In related news, Director Paul R. Lederer sold 7,593 shares of Dorman Products stock in a transaction on Friday, May 5th. The stock was sold at an average price of $82.70, for a total transaction of $627,941.10. Following the transaction, the director now directly owns 15,873 shares in the company, valued at $1,312,697.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is currently owned by insiders.
Dorman Products Company Profile
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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