Suntrust Banks Inc. Increases Position in Dorman Products, Inc. (DORM)
Suntrust Banks Inc. boosted its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,511 shares of the auto parts company’s stock after buying an additional 912 shares during the period. Suntrust Banks Inc.’s holdings in Dorman Products were worth $1,034,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake 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 valued at $287,394,000 after buying an additional 3,497,091 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $234,562,000 after buying an additional 27,088 shares during the last quarter. Congress Asset Management Co. MA boosted its stake 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 valued at $83,547,000 after buying an additional 73,884 shares during the last quarter. State Street Corp boosted its stake 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 valued at $53,388,000 after buying an additional 51,982 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Dorman Products by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 549,328 shares of the auto parts company’s stock valued at $45,468,000 after buying an additional 6,474 shares during the last quarter. 75.57% of the stock is owned by institutional investors.
A number of equities analysts recently commented on DORM shares. Zacks Investment Research raised Dorman Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. BidaskClub lowered Dorman Products from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, FBR & Co reissued 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 analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Dorman Products presently has an average rating of “Hold” and an average price target of $78.00.
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Shares of Dorman Products, Inc. (NASDAQ DORM) opened at 73.86 on Thursday. Dorman Products, Inc. has a 12 month low of $60.00 and a 12 month high of $88.50. The stock has a market capitalization of $2.51 billion, a P/E ratio of 22.45 and a beta of 0.64. The firm’s 50-day moving average price is $68.21 and its 200-day moving average price is $76.91.
Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.01). The company had revenue of $229.26 million for the quarter, compared to analyst estimates of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, equities research analysts forecast that Dorman Products, Inc. will post $3.45 EPS for the current year.
In related news, Director Paul R. Lederer sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.70% of the company’s stock.
Dorman Products 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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