Swiss National Bank Reduces Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

Swiss National Bank lowered its stake in shares of Dorman Products, Inc. (NASDAQ:DORMGet Rating) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,100 shares of the auto parts company’s stock after selling 4,200 shares during the period. Swiss National Bank’s holdings in Dorman Products were worth $6,923,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in shares of Dorman Products by 71.4% during the first quarter. Quadrant Capital Group LLC now owns 372 shares of the auto parts company’s stock worth $35,000 after acquiring an additional 155 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Dorman Products by 4,038.5% in the second quarter. First Horizon Advisors Inc. now owns 538 shares of the auto parts company’s stock worth $57,000 after purchasing an additional 525 shares during the period. Lazard Asset Management LLC bought a new position in shares of Dorman Products in the first quarter worth $94,000. Strs Ohio increased its holdings in shares of Dorman Products by 900.0% in the second quarter. Strs Ohio now owns 1,000 shares of the auto parts company’s stock worth $109,000 after purchasing an additional 900 shares during the period. Finally, Avestar Capital LLC bought a new position in shares of Dorman Products in the second quarter worth $211,000. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Insider Activity at Dorman Products

In related news, Director John J. Gavin sold 3,177 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $84.69, for a total value of $269,060.13. Following the transaction, the director now owns 8,051 shares of the company’s stock, valued at $681,839.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John J. Gavin sold 3,177 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $84.69, for a total transaction of $269,060.13. Following the transaction, the director now directly owns 8,051 shares of the company’s stock, valued at $681,839.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Luftig acquired 500 shares of Dorman Products stock in a transaction dated Wednesday, October 26th. The shares were bought at an average cost of $74.90 per share, for a total transaction of $37,450.00. Following the completion of the purchase, the senior vice president now directly owns 2,662 shares of the company’s stock, valued at approximately $199,383.80. The disclosure for this purchase can be found here. 10.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. MKM Partners decreased their price target on shares of Dorman Products from $123.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. StockNews.com cut shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Stephens decreased their price target on shares of Dorman Products from $94.00 to $87.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 25th. Finally, Barrington Research decreased their price target on shares of Dorman Products from $120.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, October 25th.

Dorman Products Stock Up 2.6 %

DORM opened at $89.35 on Wednesday. The stock has a market cap of $2.81 billion, a PE ratio of 20.54 and a beta of 0.55. Dorman Products, Inc. has a 52 week low of $73.32 and a 52 week high of $122.96. The business’s fifty day simple moving average is $84.65 and its 200 day simple moving average is $95.67.

Dorman Products (NASDAQ:DORMGet Rating) last released its earnings results on Monday, October 24th. The auto parts company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.02. The business had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $398.47 million. Dorman Products had a return on equity of 16.43% and a net margin of 8.45%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. As a group, equities analysts anticipate that Dorman Products, Inc. will post 4.79 earnings per share for the current year.

Dorman Products Company Profile

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Dorman Products, Inc supplies replacement parts and fasteners for passenger cars, light trucks, and medium- and heavy-duty trucks in the automotive aftermarket industry worldwide. It offers original equipment dealer products, such as intake and 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 oil drain plugs, and wheel bolts and lug nuts.

See Also

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Institutional Ownership by Quarter for Dorman Products (NASDAQ:DORM)

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