Dorman Products, Inc. (DORM) Shares Sold by Credit Suisse AG
Credit Suisse AG cut its stake in Dorman Products, Inc. (NASDAQ:DORM) by 30.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,888 shares of the auto parts company’s stock after selling 11,571 shares during the period. Credit Suisse AG’s holdings in Dorman Products were worth $2,126,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DORM. Paloma Partners Management Co purchased a new position in shares of Dorman Products during the first quarter valued at about $252,000. Gotham Asset Management LLC boosted its position in shares of Dorman Products by 338.1% in the first quarter. Gotham Asset Management LLC now owns 16,860 shares of the auto parts company’s stock valued at $1,385,000 after buying an additional 13,012 shares during the period. State Street Corp boosted its position in shares of Dorman Products by 8.7% in the first quarter. State Street Corp now owns 650,038 shares of the auto parts company’s stock valued at $53,388,000 after buying an additional 51,982 shares during the period. Bank of America Corp DE boosted its position in shares of Dorman Products by 48.3% in the first quarter. Bank of America Corp DE now owns 338,751 shares of the auto parts company’s stock valued at $27,822,000 after buying an additional 110,389 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Dorman Products during the first quarter valued at about $3,318,000. 76.59% of the stock is currently owned by institutional investors.
Shares of Dorman Products, Inc. (DORM) traded down 0.43% during mid-day trading on Wednesday, reaching $76.00. The company’s stock had a trading volume of 39,041 shares. The stock has a market cap of $2.60 billion, a P/E ratio of 23.10 and a beta of 0.61. Dorman Products, Inc. has a one year low of $60.00 and a one year high of $88.50. The stock has a 50 day moving average of $78.06 and a 200-day moving average of $78.22.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.01. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The firm had revenue of $229.26 million for the quarter, compared to analysts’ expectations of $225.91 million. During the same period last year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Dorman Products, Inc. will post $3.45 EPS for the current fiscal year.
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Several research analysts recently issued reports on the company. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut Dorman Products from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. FBR & Co reaffirmed a “mkt perform” rating and set a $74.50 target price on shares of Dorman Products in a research report on Tuesday, July 18th. Finally, B. Riley reaffirmed a “neutral” rating and set a $74.50 target price on shares of Dorman Products in a research report on Saturday, May 13th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Dorman Products presently has an average rating of “Hold” and an average price target of $81.25.
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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