8,163 Dorman Products, Inc. $DORM Shares Bought by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its Dorman Products stake by 13.9% in the third quarter, purchasing 8,163 shares to own 66,751 shares valued at approximately $8.18 million. Institutional investors collectively hold 84.7% of DORM’s outstanding stock.
• Dorman Products reported quarterly earnings of $2.08 per share, exceeding analysts’ $2.00 estimate, while revenue rose 3.3% year over year to $561.72 million but fell slightly short of forecasts.
• Analyst sentiment remains positive overall, with six Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $148.40; DORM recently traded at $136.01.

Bridge City Capital LLC lifted its position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,751 shares of the auto parts company's stock after buying an additional 8,163 shares during the period. Dorman Products comprises 1.7% of Bridge City Capital LLC's portfolio, making the stock its 17th largest holding. Bridge City Capital LLC owned about 0.22% of Dorman Products worth $8,184,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Dorman Products during the second quarter valued at about $556,542,000. Reinhart Partners LLC. acquired a new position in shares of Dorman Products in the 2nd quarter valued at $93,386,000. Bank of America Corp DE acquired a new position in shares of Dorman Products in the second quarter valued at approximately $57,222,000. American Capital Management Inc. purchased a new position in Dorman Products in the second quarter valued at about $38,785,000. Finally, Bank of New York Mellon Corp acquired a new position in Dorman Products in the 2nd quarter valued at $22,598,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Dorman Products Price Performance

Shares of DORM opened at $136.01 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 50-day simple moving average of $125.64 and a 200-day simple moving average of $123.55. 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 firm has a market capitalization of $4.01 billion, a P/E ratio of 20.24 and a beta of 0.98.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The auto parts company reported $2.08 earnings per share 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 the consensus estimate of $565.33 million. Dorman Products had a return on equity of 17.87% and a net margin of 9.30%. The business's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.62 earnings per share. On average, equities research analysts expect that Dorman Products, Inc. will post 8.61 earnings per share for the current year.

Insider Buying and Selling at Dorman Products

In other news, CAO Gregory Bowen sold 3,531 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total transaction of $512,030.31. Following the sale, the chief accounting officer directly owned 5,340 shares in the company, valued at approximately $774,353.40. This represents a 39.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DORM has been the topic of a number of research analyst reports. Roth Capital reiterated a "buy" rating on shares of Dorman Products in a research note on Wednesday, August 5th. Wells Fargo & Company lowered their target price on Dorman Products from $160.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Freedom Capital lowered shares of Dorman Products from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings cut shares of Dorman Products from a "hold (c+)" rating to a "hold (c-)" rating in a report on Wednesday. Finally, Freedom Broker upgraded shares of Dorman Products from a "hold" rating to a "buy" rating and lowered their price objective for the company from $154.00 to $152.00 in a research report on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $148.40.

Dorman Products Company Profile

Dorman Products, Inc develops, manufactures and distributes replacement and upgrade parts for automobiles, light-, medium- and heavy-duty trucks, and other vehicles. Its products are sold primarily through the automotive aftermarket, serving professional repair shops, retailers, distributors, e-commerce channels and do-it-yourself consumers.

The company offers a broad range of products, including engine, transmission, cooling, electrical, steering, suspension, braking, chassis and body components.

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