Public Employees Retirement Association of Colorado Has $15,696,000 Position in Dorman Products Inc. (DORM)
Public Employees Retirement Association of Colorado boosted its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 21.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,402 shares of the company’s stock after buying an additional 48,097 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.79% of Dorman Products worth $15,696,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. LaSalle Street Capital Management LLC bought a new position in Dorman Products during the second quarter valued at about $203,000. National Investment Services Inc. WI bought a new position in Dorman Products during the second quarter valued at about $226,000. Capstone Asset Management Co. increased its position in Dorman Products by 1.0% in the second quarter. Capstone Asset Management Co. now owns 9,073 shares of the company’s stock valued at $519,000 after buying an additional 90 shares during the period. BNP Paribas Arbitrage SA increased its position in Dorman Products by 86.0% in the second quarter. BNP Paribas Arbitrage SA now owns 10,124 shares of the company’s stock valued at $579,000 after buying an additional 4,681 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Dorman Products during the first quarter valued at about $580,000. 76.48% of the stock is owned by institutional investors and hedge funds.
Shares of Dorman Products Inc. (NASDAQ:DORM) traded up 1.33% during trading on Wednesday, reaching $63.46. 42,759 shares of the company traded hands. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.59 and a beta of 0.76. Dorman Products Inc. has a 1-year low of $40.17 and a 1-year high of $67.30. The stock’s 50 day moving average is $63.72 and its 200 day moving average is $57.83.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business earned $209.60 million during the quarter, compared to analysts’ expectations of $214.11 million. Dorman Products had a return on equity of 18.83% and a net margin of 11.82%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, analysts forecast that Dorman Products Inc. will post $2.99 EPS for the current year.
Several equities analysts have recently issued reports on the stock. B. Riley restated a “neutral” rating and set a $49.50 price objective on shares of Dorman Products in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Dorman Products from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a report on Wednesday, July 27th. Finally, Jefferies Group upped their price objective on shares of Dorman Products from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.63.
In related news, SVP Jeffery Darby sold 490 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 11,990 shares in the company, valued at $767,360. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul R. Lederer sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $62.55, for a total value of $31,275.00. Following the sale, the director now owns 34,549 shares of the company’s stock, valued at approximately $2,161,039.95. The disclosure for this sale can be found here. 11.70% of the stock is owned by insiders.
Dorman Products Company Profile
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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