Isthmus Partners LLC reduced its stake in Dorman Products, Inc. (NASDAQ:DORM) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,740 shares of the auto parts company’s stock after selling 485 shares during the period. Isthmus Partners LLC’s holdings in Dorman Products were worth $972,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sheets Smith Wealth Management raised its holdings in Dorman Products by 0.4% in the 2nd quarter. Sheets Smith Wealth Management now owns 3,690 shares of the auto parts company’s stock valued at $305,000 after buying an additional 15 shares during the period. Alps Advisors Inc. raised its holdings 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 buying an additional 16 shares during the period. NGAM Advisors L.P. raised its holdings 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 buying an additional 52 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Dorman Products by 1.0% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 6,930 shares of the auto parts company’s stock valued at $569,000 after buying an additional 70 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dorman Products by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock valued at $119,000 after buying an additional 118 shares during the period. Hedge funds and other institutional investors own 75.57% of the company’s stock.
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In other news, Director Paul R. Lederer sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $74.82, for a total value of $134,676.00. Following the transaction, the director now directly owns 16,961 shares in the company, valued at approximately $1,269,022.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.70% of the company’s stock.
Several brokerages recently issued reports on DORM. Zacks Investment Research lowered shares of Dorman Products from a “hold” rating to a “sell” rating in a report on Monday, July 10th. FBR & Co restated a “mkt perform” rating and issued a $74.50 price objective on shares of Dorman Products in a report on Tuesday, July 18th. Finally, BidaskClub upgraded shares of Dorman Products from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Dorman Products presently has an average rating of “Hold” and an average price target of $81.25.
Dorman Products, Inc. (DORM) traded up 0.21% during trading on Monday, reaching $68.09. The company’s stock had a trading volume of 29,413 shares. The company has a market capitalization of $2.31 billion, a P/E ratio of 20.70 and a beta of 0.64. Dorman Products, Inc. has a 1-year low of $60.00 and a 1-year high of $88.50. The company’s 50-day moving average is $69.67 and its 200-day moving average is $77.76.
Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The firm had revenue of $229.26 million during the quarter, compared to analysts’ expectations of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. Equities analysts anticipate that Dorman Products, Inc. will post $3.45 EPS for the current year.
Dorman Products Company Profile
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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