Teacher Retirement System of Texas boosted its position in shares of Dorman Products Inc. (NASDAQ:DORM) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,459 shares of the company’s stock after buying an additional 544 shares during the period. Teacher Retirement System of Texas’ holdings in Dorman Products were worth $255,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new stake in Dorman Products during the second quarter worth $9,368,000. PNC Financial Services Group Inc. increased its stake in Dorman Products by 19.5% in the second quarter. PNC Financial Services Group Inc. now owns 925,038 shares of the company’s stock worth $52,912,000 after buying an additional 151,004 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in Dorman Products during the second quarter worth $7,810,000. Jennison Associates LLC increased its stake in Dorman Products by 40.4% in the second quarter. Jennison Associates LLC now owns 448,969 shares of the company’s stock worth $25,681,000 after buying an additional 129,149 shares during the last quarter. Finally, Henderson Group PLC increased its stake in Dorman Products by 57.6% in the second quarter. Henderson Group PLC now owns 338,072 shares of the company’s stock worth $19,338,000 after buying an additional 123,617 shares during the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.
Shares of Dorman Products Inc. (NASDAQ:DORM) opened at 62.92 on Tuesday. The company has a 50 day moving average price of $63.75 and a 200 day moving average price of $58.08. Dorman Products Inc. has a 1-year low of $40.17 and a 1-year high of $67.30. The company has a market capitalization of $2.17 billion, a PE ratio of 22.40 and a beta of 0.76.
Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, July 26th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company earned $209.60 million during the quarter, compared to the consensus estimate of $214.11 million. Dorman Products had a net margin of 11.82% and a return on equity of 18.83%. Dorman Products’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. Equities analysts predict that Dorman Products Inc. will post $2.99 EPS for the current fiscal year.
DORM has been the topic of several analyst reports. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Jefferies Group lifted their price objective on Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. Finally, B. Riley reiterated a “neutral” rating and issued a $49.50 price objective on shares of Dorman Products in a report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $60.63.
In other Dorman Products news, SVP Jeffery Darby sold 490 shares of the stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $64.00, for a total transaction of $31,360.00. Following the completion of the transaction, the senior vice president now owns 11,990 shares of the company’s stock, valued at approximately $767,360. The transaction 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 500 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $62.55, for a total transaction of $31,275.00. Following the transaction, the director now directly owns 34,549 shares of the company’s stock, valued at approximately $2,161,039.95. The disclosure for this sale can be found here. 11.70% of the stock is currently owned by corporate insiders.
Dorman Products Company Profile
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.