Public Employees Retirement Association of Colorado increased its holdings in shares of Dorman Products Inc. (NASDAQ:DORM) by 12.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 253,418 shares of the auto parts company’s stock after purchasing an additional 27,833 shares during the period. Public Employees Retirement Association of Colorado owned 0.77% of Dorman Products worth $22,083,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DORM. Norges Bank acquired a new stake in Dorman Products in the fourth quarter valued at approximately $18,465,000. Anchor Capital Advisors LLC boosted its stake in Dorman Products by 42.7% in the first quarter. Anchor Capital Advisors LLC now owns 264,294 shares of the auto parts company’s stock valued at $23,282,000 after acquiring an additional 79,052 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in Dorman Products by 1,640.6% in the first quarter. Kennedy Capital Management Inc. now owns 79,440 shares of the auto parts company’s stock valued at $6,998,000 after acquiring an additional 74,876 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Dorman Products by 15.1% in the first quarter. PNC Financial Services Group Inc. now owns 507,263 shares of the auto parts company’s stock worth $44,683,000 after buying an additional 66,451 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Dorman Products by 1.3% in the first quarter. BlackRock Inc. now owns 4,097,147 shares of the auto parts company’s stock worth $360,918,000 after buying an additional 51,122 shares during the last quarter. Institutional investors own 81.25% of the company’s stock.
A number of research analysts have issued reports on DORM shares. Zacks Investment Research cut shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. BidaskClub cut shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. ValuEngine cut shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Finally, Barrington Research reaffirmed a “hold” rating on shares of Dorman Products in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $56.50.
Shares of NASDAQ DORM traded down $1.21 during midday trading on Wednesday, reaching $73.54. The company had a trading volume of 3,836 shares, compared to its average volume of 203,064. The company’s 50-day moving average is $80.35. The company has a market cap of $2.45 billion, a PE ratio of 17.52, a P/E/G ratio of 1.68 and a beta of 0.57. Dorman Products Inc. has a 1 year low of $65.68 and a 1 year high of $97.38.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.48). The company had revenue of $254.18 million during the quarter, compared to analysts’ expectations of $263.68 million. Dorman Products had a return on equity of 16.36% and a net margin of 11.28%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. Research analysts forecast that Dorman Products Inc. will post 3.33 earnings per share for the current fiscal year.
Dorman Products Profile
Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.
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