Ameriprise Financial Inc. Has $23.68 Million Position in Dorman Products, Inc. (DORM)

Ameriprise Financial Inc. boosted its position in Dorman Products, Inc. (NASDAQ:DORM) by 33.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 330,617 shares of the auto parts company’s stock after purchasing an additional 82,743 shares during the quarter. Ameriprise Financial Inc. owned about 0.98% of Dorman Products worth $23,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Pinebridge Investments L.P. raised its stake in Dorman Products by 0.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,976 shares of the auto parts company’s stock valued at $329,000 after purchasing an additional 11 shares during the last quarter. Alps Advisors Inc. raised its stake in Dorman Products by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,014 shares of the auto parts company’s stock valued at $498,000 after purchasing an additional 16 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in Dorman Products by 3.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock valued at $115,000 after purchasing an additional 41 shares during the last quarter. NGAM Advisors L.P. raised its stake in Dorman Products by 0.3% in the 2nd quarter. NGAM Advisors L.P. now owns 20,645 shares of the auto parts company’s stock valued at $1,709,000 after purchasing an additional 52 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Dorman Products by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,405 shares of the auto parts company’s stock valued at $199,000 after purchasing an additional 115 shares during the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Shares of Dorman Products, Inc. (DORM) opened at $65.56 on Friday. The company has a market capitalization of $2,232.09, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.80 and a beta of 0.60. Dorman Products, Inc. has a fifty-two week low of $62.64 and a fifty-two week high of $88.50.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Friday, October 27th. The auto parts company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.07). The business had revenue of $224.60 million during the quarter, compared to analysts’ expectations of $233.56 million. Dorman Products had a net margin of 12.53% and a return on equity of 18.32%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. analysts forecast that Dorman Products, Inc. will post 3.34 earnings per share for the current year.

Several brokerages recently weighed in on DORM. Zacks Investment Research raised shares of Dorman Products from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Jefferies Group restated a “hold” rating and issued a $75.00 price target on shares of Dorman Products in a report on Sunday, October 29th. B. Riley restated a “neutral” rating and issued a $65.00 price target (down previously from $75.00) on shares of Dorman Products in a report on Wednesday, November 1st. FBR & Co restated a “neutral” rating and issued a $65.00 price target (down previously from $75.00) on shares of Dorman Products in a report on Monday, October 30th. Finally, BidaskClub cut Dorman Products from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $68.33.

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About Dorman Products

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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