Louisiana State Employees Retirement System decreased its position in Dorman Products Inc. (NASDAQ:DORM) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 13,300 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Dorman Products were worth $761,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. LaSalle Street Capital Management LLC purchased a new stake in Dorman Products during the second quarter worth $203,000. National Investment Services Inc. WI purchased a new stake in Dorman Products during the second quarter worth $226,000. Capstone Asset Management Co. increased its stake in Dorman Products by 1.0% in the second quarter. Capstone Asset Management Co. now owns 9,073 shares of the company’s stock worth $519,000 after buying an additional 90 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Dorman Products by 86.0% in the second quarter. BNP Paribas Arbitrage SA now owns 10,124 shares of the company’s stock worth $579,000 after buying an additional 4,681 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in Dorman Products during the first quarter worth $580,000. Institutional investors own 76.46% of the company’s stock.
Dorman Products Inc. (NASDAQ:DORM) traded down 0.57% during midday trading on Friday, reaching $63.24. The company had a trading volume of 73,607 shares. Dorman Products Inc. has a 12-month low of $40.17 and a 12-month high of $67.30. The company has a market capitalization of $2.18 billion, a PE ratio of 22.51 and a beta of 0.76. The stock has a 50-day moving average price of $63.66 and a 200 day moving average price of $57.66.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. Dorman Products had a return on equity of 18.83% and a net margin of 11.82%. The firm had revenue of $209.60 million for the quarter, compared to analyst estimates of $214.11 million. During the same quarter last year, the company earned $0.65 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Dorman Products Inc. will post $2.99 EPS for the current year.
A number of research firms have recently weighed in on DORM. Zacks Investment Research upgraded Dorman Products from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, June 28th. Jefferies Group boosted their target price on Dorman Products from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Finally, B. Riley restated a “neutral” rating and set a $49.50 target price on shares of Dorman Products in a research report on Monday, August 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Dorman Products has an average rating of “Hold” and a consensus price target of $60.63.
In other Dorman Products news, Director Paul R. Lederer sold 500 shares of the firm’s stock in a transaction 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 owns 34,549 shares of the company’s stock, valued at approximately $2,161,039.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeffery Darby sold 490 shares of the firm’s stock in a transaction on Friday, September 2nd. The shares were 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 approximately $767,360. The disclosure for this sale can be found here. 11.70% of the stock is owned by company insiders.
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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