Dorman Products, Inc. $DORM Stock Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in Dorman Products, Inc. (NASDAQ:DORM) by 14.6% during the third quarter, HoldingsChannel reports. The firm owned 34,215 shares of the auto parts company’s stock after selling 5,850 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Dorman Products were worth $4,195,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Heritage Family Offices LLP acquired a new stake in shares of Dorman Products during the third quarter valued at about $72,000. Provenance Wealth Advisors LLC increased its holdings in Dorman Products by 23,333.3% in the third quarter. Provenance Wealth Advisors LLC now owns 2,812 shares of the auto parts company’s stock valued at $345,000 after purchasing an additional 2,800 shares during the period. Bridge City Capital LLC raised its position in Dorman Products by 13.9% during the 3rd quarter. Bridge City Capital LLC now owns 66,751 shares of the auto parts company’s stock worth $8,184,000 after purchasing an additional 8,163 shares during the last quarter. BOKF NA bought a new position in Dorman Products during the 3rd quarter worth $394,000. Finally, Reinhart Partners LLC. raised its position in Dorman Products by 1.8% during the 3rd quarter. Reinhart Partners LLC. now owns 696,562 shares of the auto parts company’s stock worth $85,399,000 after purchasing an additional 12,180 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DORM. Weiss Ratings lowered Dorman Products from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Freedom Broker raised Dorman Products from a “hold” rating to a “buy” rating and decreased their price target for the company from $154.00 to $152.00 in a research note on Wednesday, October 28th. Roth Capital restated a “buy” rating on shares of Dorman Products in a research report on Wednesday, August 5th. Wells Fargo & Company lowered their price objective on Dorman Products from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Finally, Freedom Capital lowered Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.40.

Dorman Products Price Performance

Shares of DORM opened at $136.70 on Monday. Dorman Products, Inc. has a 52-week low of $98.44 and a 52-week high of $155.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.88 and a current ratio of 3.65. The business’s 50 day moving average price is $126.49 and its two-hundred day moving average price is $123.87. The firm has a market cap of $4.03 billion, a PE ratio of 20.34 and a beta of 0.98.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Monday, October 26th. The auto parts company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.08. The firm had revenue of $561.72 million for the quarter, compared to analysts’ expectations of $565.33 million. Dorman Products had a return on equity of 17.87% and a net margin of 9.30%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.62 EPS. On average, equities analysts anticipate that Dorman Products, Inc. will post 8.61 EPS for the current year.

Dorman Products Company Profile

Dorman Products, Inc develops, sources and markets replacement parts and solutions for the automotive aftermarket. Its products serve passenger cars, light- and heavy-duty trucks, and other vehicles, and are sold under the Dorman and other brand names.

The company’s offerings span vehicle systems and components, including engine and powertrain parts, steering and suspension components, brake and electrical products, body and interior parts, and hardware. Dorman also develops products intended to address repair needs that may not be met by traditional replacement parts.

Founded in 1918, Dorman serves customers in North America and other international markets.