First Mercantile Trust Co. reduced its stake in Dorman Products, Inc. (NASDAQ:DORM) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,898 shares of the auto parts company’s stock after selling 1,871 shares during the period. First Mercantile Trust Co.’s holdings in Dorman Products were worth $488,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DORM. Schwab Charles Investment Management Inc. raised its position in Dorman Products by 8.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 152,936 shares of the auto parts company’s stock valued at $12,561,000 after buying an additional 11,605 shares during the period. Motley Fool Asset Management LLC acquired a new position in Dorman Products during the first quarter valued at $2,952,000. Tributary Capital Management LLC raised its position in Dorman Products by 11.1% in the first quarter. Tributary Capital Management LLC now owns 218,115 shares of the auto parts company’s stock valued at $17,914,000 after buying an additional 21,722 shares during the period. Norges Bank acquired a new position in Dorman Products during the fourth quarter valued at $14,761,000. Finally, Paradice Investment Management LLC raised its position in Dorman Products by 67.8% in the first quarter. Paradice Investment Management LLC now owns 86,742 shares of the auto parts company’s stock valued at $7,124,000 after buying an additional 35,040 shares during the period. 75.86% of the stock is owned by hedge funds and other institutional investors.

Dorman Products, Inc. (NASDAQ DORM) opened at 68.96 on Wednesday. The firm has a market cap of $2.34 billion, a P/E ratio of 20.96 and a beta of 0.61. Dorman Products, Inc. has a 1-year low of $60.00 and a 1-year high of $88.50. The firm’s 50-day moving average price is $76.84 and its 200-day moving average price is $78.65.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by $0.01. Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The business had revenue of $229.26 million for the quarter, compared to the consensus estimate of $225.91 million. During the same period in the prior year, the business posted $0.75 EPS. Dorman Products’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Dorman Products, Inc. will post $3.45 earnings per share for the current fiscal year.

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A number of analysts recently commented on DORM shares. Zacks Investment Research lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. BidaskClub lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $85.00 target price (up from $78.00) on shares of Dorman Products in a research report on Wednesday, May 3rd. Finally, FBR & Co reaffirmed a “mkt perform” rating and issued 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 given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.25.

In other Dorman Products news, Director Paul R. Lederer sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $74.82, for a total transaction of $134,676.00. Following the completion of the transaction, the director now owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Dorman Products (NASDAQ:DORM)

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