First Trust Advisors LP Grows Position in Dorman Products, Inc. $DORM

Key Points

• First Trust Advisors increased its Dorman Products position by 24.3% in the first quarter, bringing its holdings to 62,161 shares valued at approximately $6.5 million. Institutional investors collectively own 84.7% of the company.
• Analyst sentiment is positive, with six Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $159.50. Wells Fargo recently raised its target to $155 and assigned an Overweight rating.
• Dorman Products exceeded quarterly expectations, reporting adjusted EPS of $1.57 versus a $1.52 estimate and revenue of $528.77 million, up 4.2% year over year. The stock opened at $133.16, with a market capitalization of about $4.0 billion.

First Trust Advisors LP increased its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,161 shares of the auto parts company's stock after purchasing an additional 12,148 shares during the quarter. First Trust Advisors LP owned 0.21% of Dorman Products worth $6,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Dorman Products by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,099,352 shares of the auto parts company's stock valued at $114,725,000 after buying an additional 51,653 shares during the last quarter. State Street Corp raised its stake in shares of Dorman Products by 0.7% in the 4th quarter. State Street Corp now owns 1,061,708 shares of the auto parts company's stock valued at $130,792,000 after acquiring an additional 7,846 shares during the period. Jennison Associates LLC raised its stake in shares of Dorman Products by 1.5% in the 1st quarter. Jennison Associates LLC now owns 826,285 shares of the auto parts company's stock valued at $86,231,000 after acquiring an additional 12,504 shares during the period. Geode Capital Management LLC raised its stake in shares of Dorman Products by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 713,255 shares of the auto parts company's stock valued at $87,880,000 after acquiring an additional 26,229 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Dorman Products by 8.8% in the 4th quarter. Wellington Management Group LLP now owns 507,662 shares of the auto parts company's stock worth $62,539,000 after acquiring an additional 40,928 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Dorman Products from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Weiss Ratings raised Dorman Products from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Barrington Research restated an "outperform" rating and set a $150.00 price target on shares of Dorman Products in a research note on Monday, May 4th. Finally, Wells Fargo & Company raised their price target on Dorman Products from $140.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

Dorman Products Price Performance

Dorman Products stock opened at $133.16 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.29 and a quick ratio of 1.28. Dorman Products, Inc. has a 1-year low of $98.44 and a 1-year high of $166.89. The stock has a market cap of $3.98 billion, a PE ratio of 21.48 and a beta of 0.98. The stock's fifty day moving average is $131.87 and its two-hundred day moving average is $121.63.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its earnings results on Monday, May 4th. The auto parts company reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.05. Dorman Products had a net margin of 8.84% and a return on equity of 17.73%. The firm had revenue of $528.77 million for the quarter, compared to the consensus estimate of $524.80 million. During the same period last year, the firm posted $2.02 EPS. The company's revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Dorman Products, Inc. will post 8.22 EPS for the current fiscal year.

Dorman Products Company Profile

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman's offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company's extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.

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