First Mercantile Trust Co. lowered its position in Dorman Products Inc. (NASDAQ:DORM) by 10.7% during the third quarter, Holdings Channel reports. The fund owned 9,236 shares of the company’s stock after selling 1,110 shares during the period. First Mercantile Trust Co.’s holdings in Dorman Products were worth $590,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Dorman Products by 20.0% in the second quarter. BlackRock Inc. now owns 2,168 shares of the company’s stock worth $124,000 after buying an additional 361 shares during the last quarter. Advisor Group Inc. purchased a new stake in Dorman Products during the second quarter worth approximately $186,000. LaSalle Street Capital Management LLC purchased a new stake in Dorman Products during the second quarter worth approximately $203,000. PineBridge Investments L.P. increased its stake in Dorman Products by 4.3% in the second quarter. PineBridge Investments L.P. now owns 3,819 shares of the company’s stock worth $218,000 after buying an additional 157 shares during the last quarter. Finally, National Investment Services Inc. WI purchased a new stake in Dorman Products during the second quarter worth approximately $226,000. Institutional investors own 76.11% of the company’s stock.
Shares of Dorman Products Inc. (NASDAQ:DORM) traded up 1.08% during mid-day trading on Friday, hitting $72.27. The stock had a trading volume of 31,277 shares. The company has a 50 day moving average price of $64.82 and a 200 day moving average price of $60.45. The firm has a market cap of $2.49 billion, a P/E ratio of 25.38 and a beta of 0.66. Dorman Products Inc. has a 12-month low of $40.17 and a 12-month high of $72.36.
Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, October 24th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.81 by $0.04. Dorman Products had a net margin of 11.87% and a return on equity of 18.49%. The business earned $212.80 million during the quarter, compared to analyst estimates of $225.94 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Dorman Products Inc. will post $3.01 earnings per share for the current fiscal year.
A number of research firms have commented on DORM. B. Riley reiterated a “neutral” rating and set a $58.00 target price on shares of Dorman Products in a research report on Thursday, October 27th. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Jefferies Group reiterated a “hold” rating and set a $60.00 target price on shares of Dorman Products in a research report on Wednesday, October 19th. Finally, FBR & Co reiterated a “buy” rating and set a $68.00 target price on shares of Dorman Products in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $64.50.
In related news, SVP Jeffery Darby sold 490 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $64.00, for a total value of $31,360.00. Following the sale, the senior vice president now directly owns 11,990 shares in the company, valued at approximately $767,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.70% of the stock is 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.