Bank of New York Mellon Corp reduced its position in Dorman Products, Inc. (NASDAQ:DORM) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,370 shares of the auto parts company’s stock after selling 1,800 shares during the quarter. Bank of New York Mellon Corp owned 1.55% of Dorman Products worth $31,937,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of Dorman Products in the third quarter valued at about $193,000. Visionary Asset Management Inc. bought a new stake in shares of Dorman Products in the third quarter valued at about $204,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Dorman Products in the third quarter valued at about $275,000. Advisor Group Inc. raised its holdings in shares of Dorman Products by 34.7% in the third quarter. Advisor Group Inc. now owns 4,132 shares of the auto parts company’s stock valued at $296,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Renaissance Group LLC bought a new stake in shares of Dorman Products in the third quarter valued at about $351,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.
In other Dorman Products news, SVP Jeffery Darby sold 1,100 shares of Dorman Products stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $72.77, for a total value of $80,047.00. Following the transaction, the senior vice president now owns 13,488 shares in the company, valued at $981,521.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is owned by insiders.
Several research firms recently weighed in on DORM. BidaskClub downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. Zacks Investment Research upgraded Dorman Products from a “sell” rating to a “hold” rating in a report on Monday, January 1st. Barrington Research restated a “hold” rating on shares of Dorman Products in a report on Tuesday, February 27th. Finally, CL King upgraded Dorman Products from a “neutral” rating to a “strong-buy” rating in a report on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $70.50.
DORM traded down $0.65 on Friday, hitting $67.39. The company had a trading volume of 140,068 shares, compared to its average volume of 214,746. Dorman Products, Inc. has a 12-month low of $60.93 and a 12-month high of $88.50. The firm has a market capitalization of $2,286.13, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.47 and a beta of 0.91.
Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, February 26th. The auto parts company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. Dorman Products had a return on equity of 18.14% and a net margin of 11.80%. The company had revenue of $227.72 million for the quarter, compared to analyst estimates of $234.58 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. research analysts predict that Dorman Products, Inc. will post 4.2 earnings per share for the current fiscal year.
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About Dorman Products
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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