Dorman Products, Inc. (NASDAQ:DORM) Shares Purchased by BlackRock Inc.

BlackRock Inc. raised its position in Dorman Products, Inc. (NASDAQ:DORM – Get Rating) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,219,685 shares of the auto parts company’s stock after purchasing an additional 16,121 shares during the period. BlackRock Inc. owned about 13.43% of Dorman Products worth $346,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cerity Partners LLC acquired a new stake in Dorman Products in the 2nd quarter valued at about $263,000. Texas Permanent School Fund raised its position in shares of Dorman Products by 1.5% during the 2nd quarter. Texas Permanent School Fund now owns 20,475 shares of the auto parts company’s stock worth $2,246,000 after purchasing an additional 297 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Dorman Products in the 2nd quarter valued at approximately $228,000. Equitable Trust Co. grew its holdings in Dorman Products by 24.0% during the 3rd quarter. Equitable Trust Co. now owns 6,363 shares of the auto parts company’s stock valued at $523,000 after buying an additional 1,230 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Dorman Products by 5.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 24,979 shares of the auto parts company’s stock worth $2,051,000 after buying an additional 1,313 shares in the last quarter. Hedge funds and other institutional investors own 75.21% of the company’s stock.

Dorman Products Stock Performance

Shares of NASDAQ:DORM opened at $83.45 on Friday. The business has a 50-day moving average of $90.81 and a two-hundred day moving average of $87.65. The firm has a market capitalization of $2.62 billion, a PE ratio of 21.68 and a beta of 0.58. Dorman Products, Inc. has a 12 month low of $73.32 and a 12 month high of $119.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.87 and a quick ratio of 0.76.

Dorman Products (NASDAQ:DORM – Get Rating) last issued its earnings results on Tuesday, February 28th. The auto parts company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $501.30 million for the quarter, compared to the consensus estimate of $442.65 million. Dorman Products had a net margin of 7.01% and a return on equity of 14.96%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. As a group, research analysts forecast that Dorman Products, Inc. will post 5.23 earnings per share for the current year.

Insider Buying and Selling at Dorman Products

In other Dorman Products news, SVP Jeffery Darby sold 753 shares of the stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $91.04, for a total transaction of $68,553.12. Following the transaction, the senior vice president now directly owns 24,054 shares in the company, valued at approximately $2,189,876.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dorman Products news, SVP Jeffery Darby sold 753 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $91.04, for a total transaction of $68,553.12. Following the transaction, the senior vice president now owns 24,054 shares of the company’s stock, valued at approximately $2,189,876.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Darrell Thomas purchased 700 shares of the stock in a transaction dated Monday, December 12th. The stock was 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 directly owns 2,687 shares in the company, valued at approximately $227,803.86. The disclosure for this purchase can be found here. 10.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on DORM shares. Roth Capital reaffirmed a “buy” rating on shares of Dorman Products in a research note on Tuesday, February 28th. StockNews.com lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. Barrington Research raised their target price on shares of Dorman Products from $104.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th. Finally, Stephens boosted their price target on Dorman Products from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Dorman Products has a consensus rating of “Moderate Buy” and a consensus price target of $112.67.

About Dorman Products

(Get Rating)

Dorman Products, Inc engages in the supply of automotive replacement parts, fasteners, and service line products for the automotive aftermarket. Its products include power-train, automotive body, chassis, and hardware. The company was founded by Steven L. Berman and Richard N. Berman in October 16, 1978 and is headquartered in Colmar, PA.