Summit Creek Advisors LLC Sells 58,942 Shares of Dorman Products Inc. (DORM)
Summit Creek Advisors LLC lowered its position in shares of Dorman Products Inc. (NASDAQ:DORM) by 25.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,034 shares of the auto parts company’s stock after selling 58,942 shares during the period. Dorman Products makes up approximately 3.1% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 4th largest position. Summit Creek Advisors LLC’s holdings in Dorman Products were worth $14,540,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in Dorman Products by 8.1% in the third quarter. BlackRock Fund Advisors now owns 1,988,082 shares of the auto parts company’s stock valued at $127,038,000 after buying an additional 149,165 shares during the period. Congress Asset Management Co. MA acquired a new position in Dorman Products during the fourth quarter valued at about $62,982,000. Dimensional Fund Advisors LP raised its position in Dorman Products by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 844,321 shares of the auto parts company’s stock valued at $61,687,000 after buying an additional 8,368 shares during the period. Northern Trust Corp raised its position in Dorman Products by 1.1% in the third quarter. Northern Trust Corp now owns 666,867 shares of the auto parts company’s stock valued at $42,613,000 after buying an additional 7,139 shares during the period. Finally, State Street Corp raised its position in Dorman Products by 7.9% in the fourth quarter. State Street Corp now owns 598,056 shares of the auto parts company’s stock valued at $43,696,000 after buying an additional 43,770 shares during the period. 74.38% of the stock is owned by institutional investors and hedge funds.
Dorman Products Inc. (NASDAQ:DORM) traded up 0.38% during mid-day trading on Friday, hitting $81.67. 110,112 shares of the stock traded hands. Dorman Products Inc. has a 52 week low of $51.16 and a 52 week high of $82.51. The firm has a market cap of $2.81 billion, a P/E ratio of 26.60 and a beta of 0.60. The firm’s 50-day moving average price is $79.45 and its 200-day moving average price is $71.92.
Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Wednesday, February 22nd. The auto parts company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.06. Dorman Products had a net margin of 11.87% and a return on equity of 18.49%. The company had revenue of $229.10 million for the quarter, compared to analyst estimates of $224.28 million. During the same period in the prior year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Dorman Products Inc. will post $3.36 earnings per share for the current fiscal year.
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DORM has been the subject of several recent research reports. Zacks Investment Research raised shares of Dorman Products from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Monday, December 26th. FBR & Co lowered shares of Dorman Products from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $68.00 to $80.00 in a report on Thursday, February 23rd. B. Riley reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Dorman Products in a report on Wednesday, March 1st. Finally, CL King lowered shares of Dorman Products from a “buy” rating to a “neutral” rating in a report on Wednesday, January 4th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $74.25.
In other news, SVP Jeffery Darby sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $80.00, for a total value of $160,000.00. Following the sale, the senior vice president now directly owns 10,052 shares of the company’s stock, valued at approximately $804,160. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael Kealey sold 20,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $77.94, for a total transaction of $1,558,800.00. Following the completion of the sale, the senior vice president now directly owns 11,338 shares in the company, valued at $883,683.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,420 shares of company stock worth $1,833,238. Insiders own 11.70% of the company’s stock.
Dorman Products Company Profile
Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.
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