Dorman Products Inc. (NASDAQ:DORM) – Stock analysts at Barrington Research raised their FY2018 EPS estimates for shares of Dorman Products in a note issued to investors on Monday, October 29th. Barrington Research analyst G. Prestopino now expects that the auto parts company will post earnings of $4.16 per share for the year, up from their previous estimate of $4.15. Barrington Research currently has a “Hold” rating on the stock. Barrington Research also issued estimates for Dorman Products’ Q4 2018 earnings at $1.05 EPS, Q3 2019 earnings at $1.17 EPS and FY2019 earnings at $4.60 EPS.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $247.95 million for the quarter, compared to the consensus estimate of $234.46 million. Dorman Products had a return on equity of 19.80% and a net margin of 12.85%.
Shares of NASDAQ:DORM opened at $76.79 on Wednesday. The firm has a market cap of $2.53 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. Dorman Products has a 1 year low of $56.36 and a 1 year high of $83.42.
Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Dorman Products by 5.1% in the second quarter. Legal & General Group Plc now owns 64,197 shares of the auto parts company’s stock valued at $4,420,000 after acquiring an additional 3,103 shares during the period. Principal Financial Group Inc. lifted its holdings in Dorman Products by 1.7% in the first quarter. Principal Financial Group Inc. now owns 228,991 shares of the auto parts company’s stock valued at $15,161,000 after acquiring an additional 3,731 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Dorman Products by 24.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 68,831 shares of the auto parts company’s stock worth $4,702,000 after buying an additional 13,731 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Dorman Products in the second quarter worth about $300,000. Finally, Pinebridge Investments L.P. increased its position in Dorman Products by 7.4% in the second quarter. Pinebridge Investments L.P. now owns 25,763 shares of the auto parts company’s stock worth $1,761,000 after buying an additional 1,779 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.
In other Dorman Products news, CEO Mathias J. Barton sold 18,986 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $81.34, for a total value of $1,544,321.24. Following the transaction, the chief executive officer now owns 111,011 shares of the company’s stock, valued at $9,029,634.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffery Darby sold 1,367 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $76.13, for a total value of $104,069.71. Following the completion of the transaction, the senior vice president now directly owns 12,639 shares in the company, valued at approximately $962,207.07. The disclosure for this sale can be found here. In the last three months, insiders sold 24,278 shares of company stock worth $1,949,046. 11.90% of the stock is owned by corporate insiders.
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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