Washington Capital Management Inc. lowered its position in Dorman Products, Inc. (NASDAQ:DORM) by 15.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,600 shares of the auto parts company’s stock after selling 1,200 shares during the period. Washington Capital Management Inc.’s holdings in Dorman Products were worth $437,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of DORM. Zions Bancorporation acquired a new position in shares of Dorman Products in the first quarter worth about $188,000. Atria Investments LLC purchased a new position in shares of Dorman Products during the 1st quarter worth approximately $201,000. ARGI Investment Services LLC purchased a new position in shares of Dorman Products during the 1st quarter worth approximately $209,000. Mitchell Capital Management Co. purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $220,000. Finally, Virtu Financial LLC purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $225,000. Institutional investors and hedge funds own 76.45% of the company’s stock.
In related news, Director John J. Gavin purchased 1,536 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The shares were purchased at an average cost of $65.23 per share, for a total transaction of $100,193.28. Following the purchase, the director now directly owns 3,395 shares of the company’s stock, valued at $221,455.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffery Darby sold 1,100 shares of Dorman Products stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $72.77, for a total transaction of $80,047.00. Following the sale, the senior vice president now owns 13,488 shares in the company, valued at $981,521.76. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by company insiders.
Shares of DORM traded up $0.04 during midday trading on Wednesday, reaching $65.50. The stock had a trading volume of 6 shares, compared to its average volume of 215,225. Dorman Products, Inc. has a 1-year low of $65.50 and a 1-year high of $65.50. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.12 and a beta of 0.92.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Tuesday, May 1st. The auto parts company reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.07). Dorman Products had a net margin of 11.89% and a return on equity of 18.27%. The firm had revenue of $227.30 million during the quarter, compared to analyst estimates of $233.97 million. During the same quarter in the previous year, the business posted $0.83 earnings per share. Dorman Products’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities research analysts expect that Dorman Products, Inc. will post 4.17 EPS for the current year.
DORM has been the subject of several recent research reports. BidaskClub cut shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. Zacks Investment Research raised shares of Dorman Products from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Thursday, March 1st. Barrington Research reissued a “hold” rating on shares of Dorman Products in a research report on Tuesday, February 27th. Finally, ValuEngine cut shares of Dorman Products from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. Dorman Products currently has a consensus rating of “Hold” and an average price target of $70.50.
Dorman Products Company 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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