Cornerstone Wealth Management LLC raised its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 25.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,273 shares of the auto parts company’s stock after acquiring an additional 5,252 shares during the period. Cornerstone Wealth Management LLC owned about 0.08% of Dorman Products worth $360,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. NumerixS Investment Technologies Inc lifted its stake in Dorman Products by 1,500.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,600 shares of the auto parts company’s stock valued at $112,000 after acquiring an additional 1,500 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Dorman Products during the 2nd quarter worth $115,000. First Hawaiian Bank bought a new stake in shares of Dorman Products during the 3rd quarter worth $203,000. BB&T Corp bought a new stake in shares of Dorman Products during the 3rd quarter worth $212,000. Finally, Stifel Financial Corp bought a new stake in shares of Dorman Products during the 1st quarter worth $254,000. Institutional investors and hedge funds own 78.82% of the company’s stock.
In related news, Director Paul R. Lederer sold 3,925 shares of Dorman Products stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $76.60, for a total value of $300,655.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mathias J. Barton sold 18,986 shares of Dorman Products stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $81.34, for a total value of $1,544,321.24. Following the completion of the sale, the chief executive officer now directly owns 111,011 shares of the company’s stock, valued at approximately $9,029,634.74. The disclosure for this sale can be found here. Insiders own 11.90% of the company’s stock.
DORM has been the topic of a number of recent analyst reports. BidaskClub cut Dorman Products from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. Barrington Research reiterated a “hold” rating and set a $16.00 target price on shares of Dorman Products in a research note on Friday, October 5th. Finally, ValuEngine upgraded Dorman Products from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $46.50.
NASDAQ DORM opened at $80.61 on Wednesday. The firm has a market cap of $2.69 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.96. Dorman Products Inc. has a one year low of $56.36 and a one year high of $83.42.
Dorman Products (NASDAQ:DORM) last released its earnings results on Thursday, October 25th. The auto parts company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The company had revenue of $247.95 million for the quarter, compared to analysts’ expectations of $234.46 million. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%. On average, research analysts predict that Dorman Products Inc. will post 4.18 earnings per share for the current fiscal year.
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Dorman Products Company 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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