Allianz Asset Management GmbH Purchases New Position in Dorman Products, Inc. (NASDAQ:DORM)

Allianz Asset Management GmbH purchased a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,010 shares of the auto parts company’s stock, valued at approximately $242,000.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings 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 valued at $17,031,000 after purchasing an additional 3,206 shares during the period. LPL Financial LLC grew its holdings in shares of Dorman Products by 216.6% during the 4th quarter. LPL Financial LLC now owns 19,715 shares of the auto parts company’s stock worth $2,555,000 after acquiring an additional 13,487 shares during the period. Norges Bank purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $41,047,000. Flagship Harbor Advisors LLC grew its holdings in shares of Dorman Products by 12.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,493 shares of the auto parts company’s stock worth $301,000 after acquiring an additional 277 shares during the period. Finally, Sierra Summit Advisors LLC purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $565,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director John J. Gavin sold 2,900 shares of the business’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 value of $380,451.00. Following the sale, the director directly owned 8,132 shares of the company’s stock, valued at $1,066,837.08. The trade was a 26.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Donna M. Long sold 820 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $122.21, for a total value of $100,212.20. Following the completion of the sale, the senior vice president directly owned 19,074 shares in the company, valued at approximately $2,331,033.54. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

Dorman Products Stock Performance

Shares of DORM opened at $119.13 on Monday. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average price is $124.32 and its 200-day moving average price is $123.96. Dorman Products, Inc. has a 52 week low of $94.87 and a 52 week high of $146.60. The stock has a market cap of $3.63 billion, a P/E ratio of 17.09 and a beta of 0.79.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results 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. Dorman Products had a return on equity of 19.10% and a net margin of 10.48%. The firm had revenue of $507.69 million for the quarter, compared to analysts’ expectations of $483.09 million. During the same period in the previous year, the firm posted $1.31 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

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.