Legato Capital Management LLC Boosts Stake in Dorman Products, Inc. (NASDAQ:DORM)

Legato Capital Management LLC boosted its position in Dorman Products, Inc. (NASDAQ:DORM) by 890.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,241 shares of the auto parts company’s stock after buying an additional 7,409 shares during the period. Legato Capital Management LLC’s holdings in Dorman Products were worth $682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Dorman Products by 161,230.6% in the first quarter. BlackRock Inc. now owns 3,499,260 shares of the auto parts company’s stock valued at $287,394,000 after buying an additional 3,497,091 shares during the period. Vanguard Group Inc. boosted its position in Dorman Products by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,806,822 shares of the auto parts company’s stock valued at $230,525,000 after buying an additional 127,653 shares during the period. Congress Asset Management Co. MA boosted its position in Dorman Products by 8.5% in the first quarter. Congress Asset Management Co. MA now owns 935,503 shares of the auto parts company’s stock valued at $76,833,000 after buying an additional 73,446 shares during the period. State Street Corp boosted its position in Dorman Products by 8.7% in the first quarter. State Street Corp now owns 650,038 shares of the auto parts company’s stock valued at $53,388,000 after buying an additional 51,982 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Dorman Products by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 542,854 shares of the auto parts company’s stock valued at $44,585,000 after buying an additional 134,472 shares during the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.

Dorman Products, Inc. (NASDAQ:DORM) traded down 4.87% on Wednesday, reaching $65.60. 1,016,977 shares of the company were exchanged. The stock has a 50-day moving average price of $76.40 and a 200 day moving average price of $78.56. Dorman Products, Inc. has a 52 week low of $60.00 and a 52 week high of $88.50. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 19.94 and a beta of 0.61.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Tuesday, August 1st. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $229.26 million during the quarter, compared to analysts’ expectations of $225.91 million. Dorman Products had a return on equity of 18.64% and a net margin of 12.66%. Dorman Products’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Analysts forecast that Dorman Products, Inc. will post $3.45 earnings per share for the current year.

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A number of equities research analysts have issued reports on DORM shares. BidaskClub upgraded Dorman Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded shares of Dorman Products from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $85.00 price target (up previously from $78.00) on shares of Dorman Products in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $81.25.

In other news, Director Paul R. Lederer sold 1,800 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $74.82, for a total value of $134,676.00. Following the completion of the sale, the director now directly owns 16,961 shares of the company’s stock, valued at $1,269,022.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

About Dorman Products

Dorman Products, Inc is a supplier of replacement parts and fasteners for passenger cars, light trucks and heavy duty trucks in the automotive aftermarket. As of December 31, 2016, the Company distributed and marketed approximately 155,000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners.

Institutional Ownership by Quarter for Dorman Products (NASDAQ:DORM)

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