Cornerstone Wealth Management LLC raised its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 25.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 26,273 shares of the auto parts company’s stock after buying an additional 5,252 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Dorman Products were worth $360,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. NumerixS Investment Technologies Inc grew its holdings in Dorman Products by 1,500.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the auto parts company’s stock valued at $112,000 after buying an additional 1,500 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Dorman Products during the 2nd quarter valued at about $115,000. First Hawaiian Bank purchased a new position in Dorman Products during the 3rd quarter valued at about $203,000. BB&T Corp purchased a new position in Dorman Products during the 3rd quarter valued at about $212,000. Finally, Stifel Financial Corp purchased a new position in Dorman Products during the 1st quarter valued at about $254,000. 78.82% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Mathias J. Barton sold 18,986 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $81.34, for a total transaction of $1,544,321.24. Following the completion of the transaction, the chief executive officer now owns 111,011 shares of the company’s stock, valued at $9,029,634.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul R. Lederer sold 3,925 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $76.60, for a total value of $300,655.00. The disclosure for this sale can be found here. 11.90% of the stock is currently owned by insiders.
Shares of NASDAQ DORM opened at $80.61 on Wednesday. Dorman Products Inc. has a 12 month low of $56.36 and a 12 month high of $83.42. The stock has a market cap of $2.69 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.96.
Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Thursday, October 25th. The auto parts company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%. The company had revenue of $247.95 million during the quarter, compared to analyst estimates of $234.46 million. As a group, research analysts forecast that Dorman Products Inc. will post 4.18 EPS for the current fiscal year.
A number of research analysts have weighed in on the company. Barrington Research reaffirmed a “hold” rating and set a $16.00 target price on shares of Dorman Products in a report on Friday, October 5th. ValuEngine raised Dorman Products from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $46.50.
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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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