Morgan Stanley Has $4.30 Million Stake in Dorman Products, Inc. (NASDAQ:DORM)
Morgan Stanley reduced its position in Dorman Products, Inc. (NASDAQ:DORM) by 42.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 52,331 shares of the auto parts company’s stock after selling 38,951 shares during the period. Morgan Stanley’s holdings in Dorman Products were worth $4,298,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Dorman Products by 9.4% in the first quarter. Geode Capital Management LLC now owns 251,649 shares of the auto parts company’s stock worth $20,667,000 after buying an additional 21,645 shares during the period. Vanguard Group Inc. boosted its position in Dorman Products by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,806,822 shares of the auto parts company’s stock worth $230,525,000 after buying an additional 127,653 shares during the period. Thrivent Financial For Lutherans boosted its position in Dorman Products by 4.7% in the first quarter. Thrivent Financial For Lutherans now owns 17,100 shares of the auto parts company’s stock worth $1,404,000 after buying an additional 760 shares during the period. Teacher Retirement System of Texas bought a new position in Dorman Products during the first quarter worth $204,000. Finally, Clark Capital Management Group Inc. boosted its position in Dorman Products by 13.9% in the first quarter. Clark Capital Management Group Inc. now owns 26,365 shares of the auto parts company’s stock worth $2,166,000 after buying an additional 3,225 shares during the period. 76.59% of the stock is owned by institutional investors.
Shares of Dorman Products, Inc. (DORM) traded up 0.20% during midday trading on Friday, hitting $74.17. The stock had a trading volume of 77,557 shares. Dorman Products, Inc. has a 12-month low of $60.00 and a 12-month high of $88.50. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 22.54 and a beta of 0.61. The company’s 50-day moving average price is $77.39 and its 200-day moving average price is $78.45.
Dorman Products (NASDAQ:DORM) last released its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $229.26 million during the quarter, compared to analysts’ expectations of $225.91 million. Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. Dorman Products’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. Equities research analysts forecast that Dorman Products, Inc. will post $3.45 EPS for the current year.
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A number of equities analysts have recently weighed in on the company. BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut Dorman Products from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. FBR & Co reaffirmed a “mkt perform” rating and issued a $74.50 price objective on shares of Dorman Products in a research report on Tuesday, July 18th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $74.50 price objective on shares of Dorman Products in a research report on Saturday, May 13th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Dorman Products presently has an average rating of “Hold” and an average target price 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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