Dorman Products Inc. (DORM) Stake Decreased by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS cut its stake in Dorman Products Inc. (NASDAQ:DORM) by 27.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,680 shares of the company’s stock after selling 103,720 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.78% of Dorman Products worth $15,483,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in DORM. State Street Corp increased its stake in shares of Dorman Products by 2.0% in the first quarter. State Street Corp now owns 525,985 shares of the company’s stock valued at $28,625,000 after buying an additional 10,422 shares during the period. 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 worth $519,000 after buying an additional 90 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Dorman Products by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 741,026 shares of the company’s stock worth $40,327,000 after buying an additional 14,637 shares during the last quarter. BlackRock Group LTD increased its position in Dorman Products by 9.2% in the first quarter. BlackRock Group LTD now owns 35,775 shares of the company’s stock worth $1,947,000 after buying an additional 3,021 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in Dorman Products by 21.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 274,402 shares of the company’s stock worth $15,696,000 after buying an additional 48,097 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.
Dorman Products Inc. (NASDAQ:DORM) traded down 0.62% on Friday, reaching $62.50. The company’s stock had a trading volume of 82,197 shares. The company has a market cap of $2.16 billion, a P/E ratio of 22.25 and a beta of 0.76. The firm’s 50-day moving average price is $63.75 and its 200 day moving average price is $57.90. Dorman Products Inc. has a 52-week low of $40.17 and a 52-week high of $67.30.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, July 26th. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm had revenue of $209.60 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.65 EPS. Equities analysts anticipate that Dorman Products Inc. will post $2.99 EPS for the current fiscal year.
A number of research firms recently issued reports on DORM. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. B. Riley reiterated a “neutral” rating and set a $49.50 price objective on shares of Dorman Products in a report on Monday, August 1st. Finally, Jefferies Group increased their price objective on Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Dorman Products currently has an average rating of “Hold” and a consensus target price of $60.63.
In other news, SVP Jeffery Darby sold 490 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $64.00, for a total value of $31,360.00. Following the transaction, the senior vice president now directly owns 11,990 shares of the company’s stock, valued at approximately $767,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul R. Lederer sold 500 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $62.55, for a total value of $31,275.00. Following the completion of the transaction, the director now directly owns 34,549 shares in the company, valued at $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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