Rk Asset Management Lowers stake in Dorman Products (DORM)

Dorman Products (DORM) : Rk Asset Management reduced its stake in Dorman Products by 4.62% during the most recent quarter end. The investment management company now holds a total of 120,273 shares of Dorman Products which is valued at $7,639,741 after selling 5,820 shares in Dorman Products , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Dorman Products makes up approximately 6.98% of Rk Asset Management’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in DORM by selling 1,110 shares or 10.73% in the most recent quarter. The Hedge Fund company now holds 9,236 shares of DORM which is valued at $584,085. Dorman Products makes up approx 0.08% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in DORM by selling 4,810 shares or 47.51% in the most recent quarter. The Hedge Fund company now holds 5,314 shares of DORM which is valued at $339,724.Telemus Capital boosted its stake in DORM in the latest quarter, The investment management firm added 2,716 additional shares and now holds a total of 46,373 shares of Dorman Products which is valued at $2,964,626. Dorman Products makes up approx 0.33% of Telemus Capital’s portfolio.Independent Portfolio Consultants boosted its stake in DORM in the latest quarter, The investment management firm added 2,345 additional shares and now holds a total of 14,325 shares of Dorman Products which is valued at $915,797. Dorman Products makes up approx 0.29% of Independent Portfolio Consultants’s portfolio.

Dorman Products closed down -0.89 points or -1.40% at $62.63 with 87,869 shares getting traded on Tuesday. Post opening the session at $63.5, the shares hit an intraday low of $62.44 and an intraday high of $63.5 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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