Municipal Employees Retirement System of Michigan Acquires New Position in Dorman Products Inc. (DORM)

Municipal Employees Retirement System of Michigan purchased a new position in shares of Dorman Products Inc. (NASDAQ:DORM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,410 shares of the auto parts company’s stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DORM. Tributary Capital Management LLC lifted its holdings in Dorman Products by 1.3% during the 4th quarter. Tributary Capital Management LLC now owns 291,547 shares of the auto parts company’s stock worth $26,245,000 after purchasing an additional 3,675 shares during the last quarter. MML Investors Services LLC acquired a new position in Dorman Products in the 4th quarter valued at $236,000. Hsbc Holdings PLC raised its holdings in shares of Dorman Products by 5.7% during the 4th quarter. Hsbc Holdings PLC now owns 6,252 shares of the auto parts company’s stock worth $563,000 after buying an additional 338 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of Dorman Products by 3.6% during the 4th quarter. Texas Permanent School Fund now owns 19,030 shares of the auto parts company’s stock worth $1,713,000 after buying an additional 655 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of Dorman Products by 98.7% during the 4th quarter. LS Investment Advisors LLC now owns 1,820 shares of the auto parts company’s stock worth $164,000 after buying an additional 904 shares in the last quarter. 80.26% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on the company. Zacks Investment Research raised Dorman Products from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Thursday, December 27th. ValuEngine lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. CL King lowered Dorman Products from a “buy” rating to a “neutral” rating in a research report on Monday, January 14th. Finally, BidaskClub lowered Dorman Products from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Dorman Products has a consensus rating of “Buy” and an average price target of $56.50.

Shares of NASDAQ:DORM traded down $0.93 during midday trading on Friday, reaching $94.56. The company’s stock had a trading volume of 134,497 shares, compared to its average volume of 159,497. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 1.63 and a beta of 0.55. Dorman Products Inc. has a fifty-two week low of $56.36 and a fifty-two week high of $97.38.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Monday, February 25th. The auto parts company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. Dorman Products had a return on equity of 20.20% and a net margin of 13.72%. The business had revenue of $260.34 million for the quarter, compared to the consensus estimate of $249.09 million. During the same period in the prior year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts predict that Dorman Products Inc. will post 4.45 EPS for the current fiscal year.

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

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