Kornitzer Capital Management Inc. KS Makes New Investment in Dorman Products, Inc. $DORM

Kornitzer Capital Management Inc. KS purchased a new position in Dorman Products, Inc. (NASDAQ:DORM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 40,065 shares of the auto parts company’s stock, valued at approximately $6,245,000.

Other hedge funds have also recently modified their holdings of the company. Private Trust Co. NA increased its holdings in Dorman Products by 101.2% in the 3rd quarter. Private Trust Co. NA now owns 165 shares of the auto parts company’s stock valued at $26,000 after acquiring an additional 83 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in Dorman Products in the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC bought a new stake in Dorman Products in the third quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in Dorman Products by 594.1% during the second quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock valued at $29,000 after purchasing an additional 202 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its position in shares of Dorman Products by 134.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 244 shares of the auto parts company’s stock valued at $38,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling

In other Dorman Products news, SVP Donna M. Long sold 812 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $123.75, for a total value of $100,485.00. Following the completion of the sale, the senior vice president directly owned 17,856 shares in the company, valued at $2,209,680. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Mcknight sold 2,000 shares of Dorman Products stock in a transaction on Friday, December 12th. The stock was sold at an average price of $128.80, for a total transaction of $257,600.00. Following the completion of the transaction, the insider directly owned 9,112 shares in the company, valued at $1,173,625.60. This represents a 18.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Stephens assumed coverage on Dorman Products in a research note on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price objective on the stock. Zacks Research lowered Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Wall Street Zen cut Dorman Products from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Dorman Products in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Dorman Products has a consensus rating of “Buy” and a consensus price target of $180.50.

Dorman Products Trading Down 0.7%

DORM opened at $124.29 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 15.48 and a beta of 0.91. Dorman Products, Inc. has a 12 month low of $106.95 and a 12 month high of $166.89. The stock has a fifty day moving average price of $127.08 and a 200-day moving average price of $138.23.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Monday, October 27th. The auto parts company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.31. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.The company had revenue of $543.74 million for the quarter, compared to analyst estimates of $548.60 million. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

About Dorman Products

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.