Raymond James & Associates Sells 434 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Raymond James & Associates cut its stake in Dorman Products, Inc. (NASDAQ:DORMGet Rating) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,076 shares of the auto parts company’s stock after selling 434 shares during the quarter. Raymond James & Associates’ holdings in Dorman Products were worth $3,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Cerity Partners LLC bought a new stake in Dorman Products during the second quarter valued at approximately $263,000. US Bancorp DE grew its position in Dorman Products by 3.6% during the second quarter. US Bancorp DE now owns 11,406 shares of the auto parts company’s stock valued at $1,252,000 after buying an additional 392 shares during the period. Walleye Capital LLC bought a new stake in Dorman Products during the first quarter valued at approximately $567,000. Texas Permanent School Fund grew its position in Dorman Products by 1.5% during the second quarter. Texas Permanent School Fund now owns 20,475 shares of the auto parts company’s stock valued at $2,246,000 after buying an additional 297 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new stake in Dorman Products during the second quarter valued at approximately $228,000. 75.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on DORM shares. Stephens cut their target price on shares of Dorman Products from $94.00 to $87.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 25th. MKM Partners cut their target price on shares of Dorman Products from $123.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. StockNews.com downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Finally, Barrington Research lowered 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 Price Performance

Shares of NASDAQ:DORM opened at $86.69 on Friday. Dorman Products, Inc. has a 1-year low of $73.32 and a 1-year high of $119.04. The company has a market capitalization of $2.72 billion, a P/E ratio of 19.93 and a beta of 0.60. The firm’s 50 day simple moving average is $85.57 and its two-hundred day simple moving average is $91.06.

Dorman Products (NASDAQ:DORMGet Rating) last issued its quarterly earnings results on Monday, October 24th. The auto parts company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.04). Dorman Products had a net margin of 8.45% and a return on equity of 16.43%. The firm had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $398.47 million. During the same period in the prior year, the firm earned $1.18 EPS. Dorman Products’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Dorman Products, Inc. will post 4.79 earnings per share for the current fiscal year.

Insider Transactions at Dorman Products

In related news, Director James Darrell Thomas bought 700 shares of the stock in a transaction dated Monday, December 12th. The shares were purchased at an average price of $84.78 per share, with a total value of $59,346.00. Following the completion of the acquisition, the director now owns 2,687 shares of the company’s stock, valued at $227,803.86. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Dorman Products news, SVP Eric Luftig purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The shares were bought at an average price of $74.90 per share, with a total value of $37,450.00. Following the completion of the purchase, the senior vice president now directly owns 2,662 shares in the company, valued at $199,383.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Darrell Thomas purchased 700 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were acquired at an average cost of $84.78 per share, for a total transaction of $59,346.00. Following the purchase, the director now owns 2,687 shares of the company’s stock, valued at $227,803.86. The disclosure for this purchase can be found here. Insiders own 10.30% of the company’s stock.

Dorman Products 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.

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

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