Bank of America Corp DE Boosts Position in Dorman Products Inc. (DORM)

Bank of America Corp DE boosted its stake in Dorman Products Inc. (NASDAQ:DORM) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 237,698 shares of the auto parts company’s stock after purchasing an additional 27,742 shares during the quarter. Bank of America Corp DE owned approximately 0.72% of Dorman Products worth $21,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tributary Capital Management LLC boosted its position in shares of 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 valued at $26,245,000 after acquiring an additional 3,675 shares during the last quarter. Hsbc Holdings PLC lifted its position in Dorman Products by 5.7% in 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 during the last quarter. Texas Permanent School Fund lifted its position in Dorman Products by 3.6% in 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 during the last quarter. LS Investment Advisors LLC increased its stake in Dorman Products by 98.7% in the 4th quarter. LS Investment Advisors LLC now owns 1,820 shares of the auto parts company’s stock worth $164,000 after purchasing an additional 904 shares during the period. Finally, Castleark Management LLC purchased a new position in Dorman Products in the 4th quarter worth approximately $5,713,000. Institutional investors and hedge funds own 80.18% of the company’s stock.

Shares of DORM traded up $1.90 during mid-day trading on Friday, hitting $93.53. 130,980 shares of the company’s stock traded hands, compared to its average volume of 219,387. Dorman Products Inc. has a 1 year low of $56.36 and a 1 year high of $97.38. The stock has a market capitalization of $3.14 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

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

A number of equities analysts have commented on the company. CL King cut Dorman Products from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. ValuEngine raised Dorman Products from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. BidaskClub cut Dorman Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research raised Dorman Products from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $56.50.

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Dorman Products Profile

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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