Trust Point Inc. Cuts Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

Trust Point Inc. reduced its position in Dorman Products, Inc. (NASDAQ:DORM) by 47.6% in the first quarter, Holdings Channel.com reports. The firm owned 3,924 shares of the auto parts company’s stock after selling 3,559 shares during the quarter. Trust Point Inc.’s holdings in Dorman Products were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Dorman Products by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,028,728 shares of the auto parts company’s stock worth $392,372,000 after purchasing an additional 91,361 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Dorman Products by 1.5% in the 4th quarter. GW&K Investment Management LLC now owns 597,000 shares of the auto parts company’s stock worth $77,341,000 after purchasing an additional 8,830 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Dorman Products by 10.2% in the 4th quarter. Northern Trust Corp now owns 472,721 shares of the auto parts company’s stock worth $61,241,000 after purchasing an additional 43,811 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dorman Products by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,717 shares of the auto parts company’s stock worth $45,954,000 after purchasing an additional 4,102 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Dorman Products in the 4th quarter valued at about $42,495,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Dorman Products from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th.

Dorman Products Trading Up 0.1%

NASDAQ DORM opened at $124.71 on Tuesday. Dorman Products, Inc. has a 1-year low of $87.05 and a 1-year high of $146.60. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $121.62 and a 200-day moving average of $126.16. The firm has a market cap of $3.81 billion, a PE ratio of 20.85 and a beta of 0.87.

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

Insider Buying and Selling at Dorman Products

In other Dorman Products news, Director John J. Gavin sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $131.19, for a total transaction of $380,451.00. Following the completion of the transaction, the director now owns 8,132 shares of the company’s stock, valued at $1,066,837.08. This represents a 26.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.90% of the stock is currently owned by corporate insiders.

Dorman Products Company 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.