Alliancebernstein L.P. Raises Holdings in Dorman Products, Inc. (DORM)
Alliancebernstein L.P. raised its stake in Dorman Products, Inc. (NASDAQ:DORM) by 42.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,490 shares of the auto parts company’s stock after purchasing an additional 18,160 shares during the period. Alliancebernstein L.P. owned approximately 0.18% of Dorman Products worth $5,007,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Dorman Products during the 2nd quarter worth approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Dorman Products by 8.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock valued at $119,000 after purchasing an additional 118 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Dorman Products by 10.6% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock valued at $120,000 after purchasing an additional 139 shares during the period. Victory Capital Management Inc. increased its position in shares of Dorman Products by 10.3% during the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock valued at $159,000 after purchasing an additional 180 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Dorman Products during the first quarter valued at approximately $188,000. 75.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Dorman Products, Inc. (NASDAQ:DORM) opened at 72.87 on Tuesday. The firm’s 50-day moving average price is $68.11 and its 200-day moving average price is $76.97. The firm has a market capitalization of $2.48 billion, a P/E ratio of 22.15 and a beta of 0.63. Dorman Products, Inc. has a 12-month low of $60.00 and a 12-month high of $88.50.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The firm had revenue of $229.26 million during the quarter, compared to analyst estimates of $225.91 million. Dorman Products had a net margin of 12.66% and a return on equity of 18.64%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. Equities analysts predict that Dorman Products, Inc. will post $3.45 earnings per share for the current fiscal year.
A number of research analysts recently commented on the company. BidaskClub upgraded Dorman Products from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research downgraded shares of Dorman Products from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Finally, FBR & Co reiterated a “mkt perform” rating and set a $74.50 price target on shares of Dorman Products in a research note 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 company’s stock. The company has an average rating of “Hold” and a consensus target price of $81.25.
In related news, Director Paul R. Lederer sold 1,800 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $74.82, for a total value of $134,676.00. Following the transaction, the director now directly owns 16,961 shares in the company, valued at $1,269,022.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.
Receive News & Stock Ratings for Dorman Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dorman Products Inc. and related stocks with our FREE daily email newsletter.