Reinhart Partners Inc. cut its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,374 shares of the auto parts company’s stock after selling 4,936 shares during the period. Reinhart Partners Inc. owned 0.12% of Dorman Products worth $3,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of Dorman Products by 6.8% during the third quarter. Wells Fargo & Company MN now owns 134,671 shares of the auto parts company’s stock valued at $10,358,000 after buying an additional 8,573 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Dorman Products by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 393,089 shares of the auto parts company’s stock valued at $30,235,000 after buying an additional 7,376 shares during the last quarter. BlackRock Inc. grew its stake in shares of Dorman Products by 3.5% during the third quarter. BlackRock Inc. now owns 4,052,392 shares of the auto parts company’s stock valued at $311,708,000 after buying an additional 136,304 shares during the last quarter. FMR LLC grew its stake in shares of Dorman Products by 0.5% during the third quarter. FMR LLC now owns 779,968 shares of the auto parts company’s stock valued at $59,995,000 after buying an additional 3,568 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Dorman Products during the third quarter valued at approximately $420,000. Institutional investors and hedge funds own 80.26% of the company’s stock.
NASDAQ DORM traded up $0.83 during midday trading on Wednesday, hitting $94.43. 9,059 shares of the company traded hands, compared to its average volume of 160,170. The stock has a market capitalization of $3.12 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.61 and a beta of 0.55. Dorman Products Inc. has a 52 week low of $56.36 and a 52 week high of $97.38.
Dorman Products (NASDAQ:DORM) last announced its earnings results on Monday, February 25th. The auto parts company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. Dorman Products had a return on equity of 20.20% and a net margin of 13.72%. The business had revenue of $260.34 million for the quarter, compared to analysts’ expectations of $249.09 million. During the same quarter last year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts forecast that Dorman Products Inc. will post 4.45 EPS for the current year.
Several research analysts recently issued reports on DORM shares. BidaskClub raised Dorman Products from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 2nd. Barrington Research reissued a “hold” rating on shares of Dorman Products in a research note on Tuesday, February 26th. Zacks Investment Research raised Dorman Products from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. CL King cut Dorman Products from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. Finally, ValuEngine raised Dorman Products from a “hold” rating to a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Dorman Products has an average rating of “Buy” and an average target price of $56.50.
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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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