HighTower Advisors LLC Reduces Position in Dorman Products, Inc. (DORM)
HighTower Advisors LLC lowered its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,602 shares of the auto parts company’s stock after selling 222 shares during the quarter. HighTower Advisors LLC’s holdings in Dorman Products were worth $459,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Dorman Products by 161,230.6% during the first quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock worth $287,394,000 after acquiring an additional 3,497,091 shares during the period. Vanguard Group Inc. increased its position in Dorman Products by 1.0% during the second quarter. Vanguard Group Inc. now owns 2,833,910 shares of the auto parts company’s stock worth $234,562,000 after acquiring an additional 27,088 shares during the period. Congress Asset Management Co. MA increased its position in Dorman Products by 7.9% during the second quarter. Congress Asset Management Co. MA now owns 1,009,387 shares of the auto parts company’s stock worth $83,547,000 after acquiring an additional 73,884 shares during the period. Dimensional Fund Advisors LP increased its position in Dorman Products by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 848,572 shares of the auto parts company’s stock worth $70,236,000 after acquiring an additional 3,534 shares during the period. Finally, State Street Corp increased its position in Dorman Products by 8.7% during the first quarter. State Street Corp now owns 650,038 shares of the auto parts company’s stock worth $53,388,000 after acquiring an additional 51,982 shares during the period. 75.52% of the stock is currently owned by institutional investors and hedge funds.
In other Dorman Products news, Director Paul R. Lederer sold 1,800 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $74.82, for a total transaction of $134,676.00. Following the transaction, the director now owns 16,961 shares in the company, valued at approximately $1,269,022.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.70% of the stock is owned by company insiders.
Shares of Dorman Products, Inc. (DORM) opened at 72.29 on Thursday. The firm’s 50-day moving average is $70.00 and its 200-day moving average is $76.30. Dorman Products, Inc. has a 1-year low of $60.00 and a 1-year high of $88.50. The firm has a market cap of $2.46 billion, a P/E ratio of 21.97 and a beta of 0.64.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.01). The firm had revenue of $229.26 million for the quarter, compared to the consensus estimate of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 EPS. On average, analysts anticipate that Dorman Products, Inc. will post $3.45 EPS for the current fiscal year.
DORM has been the topic of a number of research reports. BidaskClub raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $78.00.
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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