Victory Capital Management Inc. Acquires 2,172 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Victory Capital Management Inc. grew its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 41.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,465 shares of the auto parts company’s stock after buying an additional 2,172 shares during the period. Victory Capital Management Inc.’s holdings in Dorman Products were worth $707,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DORM. Sei Investments Co. boosted its holdings in shares of Dorman Products by 25.2% during the 2nd quarter. Sei Investments Co. now owns 4,281 shares of the auto parts company’s stock valued at $457,000 after buying an additional 863 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Dorman Products by 86.3% during the 2nd quarter. Citigroup Inc. now owns 16,197 shares of the auto parts company’s stock valued at $1,679,000 after buying an additional 7,502 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Dorman Products by 75.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,050 shares of the auto parts company’s stock valued at $1,042,000 after buying an additional 4,309 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Dorman Products by 23.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,676 shares of the auto parts company’s stock valued at $277,000 after buying an additional 501 shares in the last quarter. Finally, National Asset Management Inc. boosted its holdings in shares of Dorman Products by 43.0% during the 2nd quarter. National Asset Management Inc. now owns 3,421 shares of the auto parts company’s stock valued at $355,000 after buying an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 75.31% of the company’s stock.

In related news, SVP Jeffery Darby sold 7,297 shares of the company’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $105.60, for a total value of $770,563.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Kealey sold 4,148 shares of the business’s stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $106.10, for a total value of $440,102.80. The disclosure for this sale can be found here. Insiders own 10.30% of the company’s stock.

Shares of Dorman Products stock opened at $105.95 on Friday. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 25.47 and a beta of 0.72. The firm’s 50-day moving average is $112.21 and its 200 day moving average is $103.98. Dorman Products, Inc. has a 1 year low of $89.30 and a 1 year high of $122.96.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Sunday, October 24th. The auto parts company reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.04). The firm had revenue of $348.40 million during the quarter, compared to the consensus estimate of $329.89 million. Dorman Products had a return on equity of 16.36% and a net margin of 10.69%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 EPS. Research analysts anticipate that Dorman Products, Inc. will post 4.68 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Dorman Products from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Friday, December 31st.

About Dorman Products

Dorman Products, Inc engages in the supply of automotive replacement parts, fasteners, and service line products for the automotive aftermarket. Its products comprise of power-train, automotive body, chassis, and hardware. The company was founded by Steven L. Berman and Richard N. Berman in October 1978 and is headquartered in Colmar, PA.

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

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