M&T Bank Corp Cuts Position in Dorman Products, Inc. (NASDAQ:DORM)

M&T Bank Corp lowered its position in Dorman Products, Inc. (NASDAQ:DORM) by 87.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,459 shares of the auto parts company’s stock after selling 23,746 shares during the quarter. M&T Bank Corp’s holdings in Dorman Products were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC increased its position in shares of Dorman Products by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company’s stock valued at $69,000 after buying an additional 195 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Dorman Products by 1.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 161,752 shares of the auto parts company’s stock worth $19,498,000 after purchasing an additional 2,673 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Dorman Products by 20.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,486 shares of the auto parts company’s stock worth $420,000 after purchasing an additional 591 shares in the last quarter. Principal Financial Group Inc. increased its position in Dorman Products by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 141,288 shares of the auto parts company’s stock worth $17,031,000 after purchasing an additional 3,206 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in Dorman Products by 0.4% during the 1st quarter. New York State Teachers Retirement System now owns 24,741 shares of the auto parts company’s stock worth $2,982,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Dorman Products Trading Up 0.5%

Dorman Products stock opened at $121.32 on Thursday. The stock has a market cap of $3.70 billion, a PE ratio of 17.41 and a beta of 0.85. The stock has a 50-day moving average price of $125.94 and a 200 day moving average price of $124.49. Dorman Products, Inc. has a 52 week low of $94.87 and a 52 week high of $146.60. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33.

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, topping analysts’ consensus estimates of $1.48 by $0.54. The firm had revenue of $507.69 million during the quarter, compared to analysts’ expectations of $483.09 million. Dorman Products had a return on equity of 19.10% and a net margin of 10.48%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.31 EPS. Equities research analysts predict 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.

Insider Buying and Selling

In other Dorman Products news, Director John J. Gavin sold 2,900 shares of Dorman Products stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $131.19, for a total value of $380,451.00. Following the completion of the sale, the director owned 8,132 shares in the company, valued at $1,066,837.08. The trade was a 26.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.90% of the stock is owned by company insiders.

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.