Dorman Products, Inc. (DORM) Shares Sold by Third Avenue Management LLC
Third Avenue Management LLC cut its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 25.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,600 shares of the auto parts company’s stock after selling 14,800 shares during the quarter. Third Avenue Management LLC owned approximately 0.13% of Dorman Products worth $3,609,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in DORM. YorkBridge Wealth Partners LLC boosted its stake in Dorman Products by 3.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,390 shares of the auto parts company’s stock valued at $115,000 after buying an additional 41 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Dorman Products in the second quarter valued at about $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Dorman Products by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,442 shares of the auto parts company’s stock valued at $119,000 after buying an additional 118 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Dorman Products by 10.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,447 shares of the auto parts company’s stock valued at $120,000 after buying an additional 139 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Dorman Products by 10.3% in the first quarter. Victory Capital Management Inc. now owns 1,930 shares of the auto parts company’s stock valued at $159,000 after buying an additional 180 shares in the last quarter. 75.57% of the stock is currently owned by institutional investors and hedge funds.
DORM has been the topic of several research analyst reports. BidaskClub lowered Dorman Products from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research lowered Dorman Products from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, FBR & Co reaffirmed a “mkt perform” rating and issued a $74.50 price objective on shares of Dorman Products in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $81.25.
Dorman Products, Inc. (DORM) traded up 0.07% during trading on Friday, reaching $71.62. The company’s stock had a trading volume of 132,816 shares. Dorman Products, Inc. has a 52-week low of $60.00 and a 52-week high of $88.50. The company has a market cap of $2.43 billion, a PE ratio of 21.77 and a beta of 0.64. The stock has a 50-day moving average price of $69.13 and a 200 day moving average price of $77.56.
Dorman Products (NASDAQ:DORM) last posted its earnings results on Tuesday, August 1st. The auto parts company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.01). Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. The business had revenue of $229.26 million for the quarter, compared to analysts’ expectations of $225.91 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Dorman Products’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that Dorman Products, Inc. will post $3.45 EPS for the current year.
In related news, Director Paul R. Lederer sold 1,800 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $74.82, for a total transaction of $134,676.00. Following the completion of the transaction, the director now directly owns 16,961 shares in the company, valued at $1,269,022.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. 11.70% of the stock is owned by insiders.
About Dorman Products
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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