Principal Financial Group Inc. raised its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,037 shares of the company’s stock after buying an additional 4,391 shares during the period. Principal Financial Group Inc. owned approximately 0.63% of Dorman Products worth $12,472,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in DORM. Prudential Financial Inc. raised its stake in shares of Dorman Products by 3.0% in the second quarter. Prudential Financial Inc. now owns 75,018 shares of the company’s stock valued at $4,291,000 after buying an additional 2,200 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dorman Products by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 845,220 shares of the company’s stock valued at $48,345,000 after buying an additional 30,015 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. acquired a new stake in shares of Dorman Products during the second quarter valued at approximately $1,574,000. Teacher Retirement System of Texas raised its stake in shares of Dorman Products by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 4,459 shares of the company’s stock valued at $255,000 after buying an additional 544 shares during the last quarter. Finally, Tributary Capital Management LLC acquired a new stake in shares of Dorman Products during the second quarter valued at approximately $7,810,000. Institutional investors own 76.48% of the company’s stock.
Shares of Dorman Products Inc. (NASDAQ:DORM) opened at 63.52 on Tuesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of 22.61 and a beta of 0.76. The company’s 50 day moving average price is $63.70 and its 200-day moving average price is $57.80. Dorman Products Inc. has a 12 month low of $40.17 and a 12 month high of $67.30.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business had revenue of $209.60 million for the quarter, compared to analysts’ expectations of $214.11 million. Dorman Products had a return on equity of 18.83% and a net margin of 11.82%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. Equities analysts predict that Dorman Products Inc. will post $2.99 earnings per share for the current year.
Several brokerages have recently commented on DORM. Zacks Investment Research downgraded Dorman Products from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. B. Riley reissued a “neutral” rating and issued a $49.50 price objective on shares of Dorman Products in a research note on Monday, August 1st. Finally, Jefferies Group increased their price objective on Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $60.63.
In other news, Director Paul R. Lederer sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $62.55, for a total value of $31,275.00. Following the sale, the director now directly owns 34,549 shares of the company’s stock, valued at approximately $2,161,039.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jeffery Darby sold 490 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $64.00, for a total value of $31,360.00. Following the completion of the sale, the senior vice president now directly owns 11,990 shares in the company, valued at $767,360. The disclosure for this sale can be found here. Company insiders own 11.70% of the company’s stock.
About Dorman Products
Dorman Products, Inc (Dorman) is a supplier of replacement parts and fasteners for passenger cars, light trucks, and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 150,000 various stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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