Arizona State Retirement System Cuts Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Arizona State Retirement System reduced its stake in Dorman Products, Inc. (NASDAQ:DORM) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,434 shares of the auto parts company’s stock after selling 90 shares during the quarter. Arizona State Retirement System’s holdings in Dorman Products were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC grew its holdings in shares of Dorman Products by 163.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 172 shares during the last quarter. TD Private Client Wealth LLC bought a new position in shares of Dorman Products during the fourth quarter valued at about $49,000. USA Financial Formulas increased its holdings in shares of Dorman Products by 127.6% in the first quarter. USA Financial Formulas now owns 387 shares of the auto parts company’s stock worth $47,000 after buying an additional 217 shares during the period. Blue Trust Inc. lifted its stake in shares of Dorman Products by 42.5% in the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company’s stock valued at $61,000 after acquiring an additional 150 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Dorman Products by 46.4% in the 4th quarter. Covestor Ltd now owns 555 shares of the auto parts company’s stock valued at $72,000 after acquiring an additional 176 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Dorman Products Stock Down 0.9%

Shares of NASDAQ:DORM opened at $121.33 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $125.83 and a two-hundred day simple moving average of $124.30. Dorman Products, Inc. has a 12-month low of $94.87 and a 12-month high of $146.60. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.41 and a beta of 0.85.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data 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. The company had revenue of $507.69 million during the quarter, compared to the consensus estimate of $483.09 million. Dorman Products had a return on equity of 19.10% and a net margin of 10.48%. During the same period last year, the company earned $1.31 EPS. Dorman Products’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Dorman Products

In other news, Director John J. Gavin sold 2,900 shares of the company’s 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 transaction, the director owned 8,132 shares of the company’s stock, valued at $1,066,837.08. This represents a 26.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.90% of the company’s stock.

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.