Trust Point Inc. Sells 3,559 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Trust Point Inc. cut its stake in Dorman Products, Inc. (NASDAQ:DORM) by 47.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 quarter.

Several other hedge funds also recently made changes to their positions in DORM. Empowered Funds LLC purchased a new position in shares of Dorman Products in the fourth quarter valued at $387,000. New York State Teachers Retirement System grew its position in shares of Dorman Products by 4.2% in the fourth quarter. New York State Teachers Retirement System now owns 24,641 shares of the auto parts company’s stock valued at $3,192,000 after purchasing an additional 982 shares in the last quarter. Blue Trust Inc. grew its position in shares of Dorman Products by 1,581.0% in the fourth quarter. Blue Trust Inc. now owns 353 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 332 shares in the last quarter. Principal Securities Inc. grew its position in shares of Dorman Products by 77.6% in the fourth quarter. Principal Securities Inc. now owns 396 shares of the auto parts company’s stock valued at $51,000 after purchasing an additional 173 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Dorman Products by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 138,082 shares of the auto parts company’s stock valued at $17,889,000 after purchasing an additional 4,247 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John J. Gavin sold 2,900 shares of the business’s stock in a transaction dated 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 directly owns 8,132 shares in the company, valued at $1,066,837.08. The trade was a 26.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is owned by company insiders.

Dorman Products Price Performance

Dorman Products stock opened at $124.71 on Tuesday. Dorman Products, Inc. has a 52 week low of $87.05 and a 52 week high of $146.60. The business has a 50-day simple moving average of $121.62 and a 200 day simple moving average of $126.16. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 20.85 and a beta of 0.87.

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

Wall Street Analyst Weigh In

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

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.