Vanguard Group Inc. Acquires 24,328 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Vanguard Group Inc. boosted its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 0.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,990,436 shares of the auto parts company’s stock after purchasing an additional 24,328 shares during the period. Vanguard Group Inc. owned 0.10% of Dorman Products worth $249,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mariner LLC boosted its stake in Dorman Products by 2.2% during the third quarter. Mariner LLC now owns 8,689 shares of the auto parts company’s stock worth $658,000 after buying an additional 189 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Dorman Products by 26.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,331 shares of the auto parts company’s stock worth $252,000 after purchasing an additional 697 shares during the period. Bridge City Capital LLC grew its holdings in Dorman Products by 21.3% during the 3rd quarter. Bridge City Capital LLC now owns 26,971 shares of the auto parts company’s stock valued at $2,043,000 after purchasing an additional 4,740 shares during the last quarter. OLD National Bancorp IN grew its holdings in Dorman Products by 18.6% during the 3rd quarter. OLD National Bancorp IN now owns 3,743 shares of the auto parts company’s stock valued at $284,000 after purchasing an additional 586 shares during the last quarter. Finally, Headinvest LLC purchased a new stake in Dorman Products in the 3rd quarter worth about $30,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on DORM shares. StockNews.com raised Dorman Products from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. TheStreet upgraded Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th. Finally, Roth Mkm reissued a “buy” rating and set a $116.00 target price on shares of Dorman Products in a research note on Friday, June 14th.

Dorman Products Stock Up 1.0 %

Shares of NASDAQ DORM opened at $91.48 on Monday. Dorman Products, Inc. has a 52-week low of $60.01 and a 52-week high of $98.55. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 18.41 and a beta of 0.83. The stock has a 50 day moving average price of $91.16 and a 200 day moving average price of $88.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 2.50.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.49. The business had revenue of $468.70 million during the quarter, compared to analysts’ expectations of $472.35 million. Dorman Products had a return on equity of 14.61% and a net margin of 8.10%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. Sell-side analysts expect that Dorman Products, Inc. will post 5.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Donna M. Long sold 500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $92.06, for a total value of $46,030.00. Following the completion of the sale, the senior vice president now owns 20,126 shares in the company, valued at approximately $1,852,799.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.00% of the stock is owned by company insiders.

About Dorman Products

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.