Summit Creek Advisors LLC Raises Stock Holdings in Dorman Products Inc. (NASDAQ:DORM)
Summit Creek Advisors LLC increased its position in Dorman Products Inc. (NASDAQ:DORM) by 8.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 175,202 shares of the auto parts company’s stock after purchasing an additional 13,984 shares during the period. Dorman Products makes up 2.6% of Summit Creek Advisors LLC’s holdings, making the stock its 14th biggest holding. Summit Creek Advisors LLC’s holdings in Dorman Products were worth $15,267,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of DORM. MML Investors Services LLC bought a new stake in shares of Dorman Products during the 4th quarter valued at $236,000. Raymond James & Associates boosted its holdings in shares of Dorman Products by 19.0% during the 1st quarter. Raymond James & Associates now owns 30,427 shares of the auto parts company’s stock valued at $2,680,000 after buying an additional 4,851 shares in the last quarter. Comerica Bank boosted its holdings in shares of Dorman Products by 3.6% during the 1st quarter. Comerica Bank now owns 49,458 shares of the auto parts company’s stock valued at $4,562,000 after buying an additional 1,730 shares in the last quarter. Shaker Investments LLC OH boosted its holdings in shares of Dorman Products by 135.7% during the 1st quarter. Shaker Investments LLC OH now owns 6,600 shares of the auto parts company’s stock valued at $581,000 after buying an additional 3,800 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Dorman Products by 375.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,991 shares of the auto parts company’s stock valued at $809,000 after buying an additional 7,100 shares in the last quarter. 81.01% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on DORM shares. Zacks Investment Research cut shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Finally, BidaskClub cut shares of Zai Lab from a “strong-buy” rating to a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus target price of $56.50.
Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Monday, April 29th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.17). The firm had revenue of $243.80 million during the quarter, compared to the consensus estimate of $248.09 million. Dorman Products had a return on equity of 18.77% and a net margin of 12.76%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, sell-side analysts predict that Dorman Products Inc. will post 4.43 earnings per share for the current fiscal year.
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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