Evercore Wealth Management Lowers stake in Dorman Products (DORM)

Dorman Products (DORM) : Evercore Wealth Management reduced its stake in Dorman Products by 0.44% during the most recent quarter end. The investment management company now holds a total of 425,525 shares of Dorman Products which is valued at $26,569,781 after selling 1,883 shares in Dorman Products , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Dorman Products makes up approximately 1.14% of Evercore Wealth Management’s portfolio.

Other Hedge Funds, Including , Alps Advisors Inc reduced its stake in DORM by selling 568 shares or 6.89% in the most recent quarter. The Hedge Fund company now holds 7,680 shares of DORM which is valued at $473,395. Trust Co Of Vermont added DORM to its portfolio by purchasing 79 company shares during the most recent quarter which is valued at $4,507.

Dorman Products opened for trading at $62.47 and hit $63.65 on the upside on Thursday, eventually ending the session at $63.24, with a gain of 1.28% or 0.8 points. The heightened volatility saw the trading volume jump to 1,37,759 shares. Company has a market cap of $2,190 M.

On the company’s financial health, Dorman Products reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.67. The company had revenue of $208.20 million for the quarter, compared to analysts expectations of $203.57 million. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

Dorman Products Inc. (Dorman) is a supplier of replacement parts and fasteners for passenger cars light trucks and heavy duty trucks in the automotive aftermarket. The Company distributes and markets approximately 140000 different stock keeping units (SKU’s) of automotive replacement parts and fasteners. Approximately 85% of the Company’s products are sold under brands that it owns and the remainders of its products are sold for resale under customers’ private labels other brands or in bulk. The Company also generates revenues from the sale of parts that it packages for sale in bulk or under the private labels of parts manufacturers and national warehouse distributors. The Company groups its products into four classes: power-train automotive body chassis and hardware. Its sub-brands include DORMAN OE Solutions DORMAN HELP! DORMAN TECHoice DORMAN AutoGrade DORMAN Conduct-Tite! DORMAN FirstStop and DORMAN HD Solutions.

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