Mackenzie Financial Corp Acquires 261 Shares of Dorman Products Inc. (NASDAQ:DORM)

Mackenzie Financial Corp grew its position in shares of Dorman Products Inc. (NASDAQ:DORM) by 0.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 210,751 shares of the auto parts company’s stock after buying an additional 261 shares during the quarter. Mackenzie Financial Corp’s holdings in Dorman Products were worth $18,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in Dorman Products in the second quarter valued at about $28,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Dorman Products during the second quarter valued at approximately $28,000. Strs Ohio increased its holdings in shares of Dorman Products by 160.0% during the second quarter. Strs Ohio now owns 1,300 shares of the auto parts company’s stock valued at $113,000 after acquiring an additional 800 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Dorman Products by 5.7% during the second quarter. Zions Bancorporation N.A. now owns 2,858 shares of the auto parts company’s stock valued at $249,000 after acquiring an additional 155 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Dorman Products during the second quarter valued at approximately $279,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Several equities research analysts have recently commented on DORM shares. Zacks Investment Research upgraded Dorman Products from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded Dorman Products from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. ValuEngine downgraded Dorman Products from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Barrington Research restated a “hold” rating on shares of Dorman Products in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating, Dorman Products has a consensus rating of “Hold” and a consensus target price of $56.50.

Shares of NASDAQ:DORM traded down $1.47 during mid-day trading on Friday, hitting $78.24. 5,617 shares of the company traded hands, compared to its average volume of 181,104. The stock has a market cap of $2.63 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.93 and a beta of 0.55. Dorman Products Inc. has a 12-month low of $65.68 and a 12-month high of $97.38. The stock has a 50-day moving average price of $75.99 and a two-hundred day moving average price of $82.49.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.48). The company had revenue of $254.18 million for the quarter, compared to analysts’ expectations of $263.68 million. Dorman Products had a net margin of 11.28% and a return on equity of 16.36%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, research analysts forecast that Dorman Products Inc. will post 3.33 earnings per share for the current year.

Dorman Products Company 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.

Further Reading: Support Level

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

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