Dorman Products, Inc. (NASDAQ:DORM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,318 shares of the auto parts company’s stock after selling 320 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dorman Products were worth $882,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Captrust Financial Advisors lifted its holdings in shares of Dorman Products by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company’s stock worth $247,000 after purchasing an additional 79 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Dorman Products by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company’s stock worth $350,000 after purchasing an additional 87 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Dorman Products by 5.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,644 shares of the auto parts company’s stock worth $213,000 after purchasing an additional 88 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Dorman Products by 3.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,469 shares of the auto parts company’s stock worth $298,000 after purchasing an additional 90 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Dorman Products by 4.8% during the first quarter. Xponance Inc. now owns 1,966 shares of the auto parts company’s stock worth $237,000 after purchasing an additional 90 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dorman Products

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Dorman Products Trading Up 2.4%

NASDAQ:DORM opened at $142.86 on Tuesday. The stock has a fifty day moving average price of $125.37 and a two-hundred day moving average price of $124.20. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 19.44 and a beta of 0.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. Dorman Products, Inc. has a 1 year low of $103.08 and a 1 year high of $146.60.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.30. The firm had revenue of $540.96 million during the quarter, compared to analysts’ expectations of $517.13 million. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%. Dorman Products’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.67 earnings per share. As a group, sell-side analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

About Dorman Products

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.