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

Bank of America Corp DE cut its stake in Dorman Products, Inc. (NASDAQ:DORM) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 347,634 shares of the auto parts company’s stock after selling 65,964 shares during the period. Bank of America Corp DE owned about 1.14% of Dorman Products worth $45,036,000 as of its most recent SEC filing.

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

Insider Transactions at Dorman Products

In other news, SVP Donna M. Long sold 742 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $130.38, for a total transaction of $96,741.96. Following the transaction, the senior vice president now directly owns 19,894 shares in the company, valued at $2,593,779.72. The trade was a 3.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.90% of the company’s stock.

Dorman Products Trading Down 2.2%

NASDAQ DORM opened at $128.05 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The firm has a market cap of $3.91 billion, a PE ratio of 21.41 and a beta of 0.86. Dorman Products, Inc. has a one year low of $87.05 and a one year high of $146.60. The firm’s fifty day moving average is $119.46 and its two-hundred day moving average is $127.20.

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

Wall Street Analyst Weigh In

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

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.