California State Teachers Retirement System reduced its position in Dorman Products Inc. (NASDAQ:DORM) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,158 shares of the auto parts company’s stock after selling 810 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Dorman Products worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Aigen Investment Management LP raised its position in shares of Dorman Products by 1,166.7% in the 1st quarter. Aigen Investment Management LP now owns 494 shares of the auto parts company’s stock worth $27,000 after buying an additional 455 shares during the period. Howe & Rusling Inc. raised its position in Dorman Products by 104.5% in the second quarter. Howe & Rusling Inc. now owns 585 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 299 shares during the period. Sowell Financial Services LLC raised its position in Dorman Products by 2,395.5% in the first quarter. Sowell Financial Services LLC now owns 1,098 shares of the auto parts company’s stock valued at $61,000 after purchasing an additional 1,054 shares during the period. Mutual of America Capital Management LLC raised its position in Dorman Products by 25.6% in the first quarter. Mutual of America Capital Management LLC now owns 1,287 shares of the auto parts company’s stock valued at $71,000 after purchasing an additional 262 shares during the period. Finally, FDx Advisors Inc. purchased a new position in Dorman Products in the first quarter valued at about $117,000. 76.73% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on DORM. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Friday, September 11th. BidaskClub raised Dorman Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $70.00.
In other news, SVP Jeffery Darby sold 1,624 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $83.31, for a total transaction of $135,295.44. Following the completion of the sale, the senior vice president now directly owns 16,229 shares in the company, valued at $1,352,037.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is owned by company insiders.
Shares of Dorman Products stock opened at $85.35 on Friday. The business has a 50-day moving average of $84.61 and a 200-day moving average of $69.50. The company has a market capitalization of $2.77 billion, a PE ratio of 36.79, a P/E/G ratio of 2.67 and a beta of 0.84. Dorman Products Inc. has a 1-year low of $44.49 and a 1-year high of $88.98.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Wednesday, July 29th. The auto parts company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $233.20 million during the quarter, compared to the consensus estimate of $201.07 million. Dorman Products had a return on equity of 9.57% and a net margin of 7.67%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. As a group, sell-side analysts expect that Dorman Products Inc. will post 2.75 earnings per share for the current year.
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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