Bank of America Corp DE Decreases Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Bank of America Corp DE lowered its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 347,634 shares of the auto parts company’s stock after selling 65,964 shares during the period. Bank of America Corp DE’s holdings in Dorman Products were worth $45,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Algert Global LLC boosted its holdings in Dorman Products by 46.2% during the fourth quarter. Algert Global LLC now owns 86,928 shares of the auto parts company’s stock worth $11,262,000 after buying an additional 27,490 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Dorman Products by 176.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,600 shares of the auto parts company’s stock worth $855,000 after buying an additional 4,213 shares in the last quarter. Lido Advisors LLC boosted its holdings in Dorman Products by 23.2% during the fourth quarter. Lido Advisors LLC now owns 2,367 shares of the auto parts company’s stock worth $307,000 after buying an additional 445 shares in the last quarter. Northern Trust Corp boosted its holdings in Dorman Products by 10.2% during the fourth quarter. Northern Trust Corp now owns 472,721 shares of the auto parts company’s stock worth $61,241,000 after buying an additional 43,811 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Dorman Products during the fourth quarter worth about $394,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Dorman Products from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th.

Insider Activity

In other news, SVP Donna M. Long sold 742 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total value of $96,741.96. Following the sale, the senior vice president now directly owns 19,894 shares in the company, valued at $2,593,779.72. This represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.90% of the company’s stock.

Dorman Products Stock Down 2.2%

DORM stock opened at $128.05 on Thursday. The company’s 50 day simple moving average is $119.46 and its 200-day simple moving average is $127.20. The firm has a market capitalization of $3.91 billion, a PE ratio of 21.41 and a beta of 0.86. Dorman Products, Inc. has a 12 month low of $87.05 and a 12 month high of $146.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results on Monday, May 5th. The auto parts company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.48 by $0.54. The business had revenue of $507.69 million for the quarter, compared to analyst estimates of $483.09 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. Equities analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Dorman Products Profile

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.