Comerica Bank trimmed its stake in shares of Dorman Products Inc. (NASDAQ:DORM) by 6.6% in the third quarter, HoldingsChannel.com reports. The fund owned 41,842 shares of the auto parts company’s stock after selling 2,952 shares during the period. Comerica Bank’s holdings in Dorman Products were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of DORM. Legal & General Group Plc grew its position in shares of Dorman Products by 5.1% in the second quarter. Legal & General Group Plc now owns 64,197 shares of the auto parts company’s stock valued at $4,420,000 after purchasing an additional 3,103 shares during the period. Principal Financial Group Inc. grew its position in shares of Dorman Products by 1.7% in the first quarter. Principal Financial Group Inc. now owns 228,991 shares of the auto parts company’s stock valued at $15,161,000 after purchasing an additional 3,731 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Dorman Products by 24.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 68,831 shares of the auto parts company’s stock valued at $4,702,000 after purchasing an additional 13,731 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in shares of Dorman Products in the second quarter valued at $300,000. Finally, Pinebridge Investments L.P. grew its position in shares of Dorman Products by 7.4% in the second quarter. Pinebridge Investments L.P. now owns 25,763 shares of the auto parts company’s stock valued at $1,761,000 after purchasing an additional 1,779 shares during the period. 79.82% of the stock is owned by institutional investors.
In other Dorman Products news, CEO Mathias J. Barton sold 18,986 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $81.34, for a total transaction of $1,544,321.24. Following the completion of the sale, the chief executive officer now owns 111,011 shares of the company’s stock, valued at $9,029,634.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.90% of the stock is currently owned by insiders.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%. The firm had revenue of $247.95 million during the quarter, compared to the consensus estimate of $234.46 million. As a group, equities research analysts forecast that Dorman Products Inc. will post 4.18 EPS for the current year.
A number of equities research analysts have recently commented on the company. Barrington Research reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Dorman Products in a research report on Friday, October 5th. ValuEngine raised Dorman Products from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, BidaskClub raised Dorman Products from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.50.
About Dorman Products
Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, 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 fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.
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