PNC Financial Services Group Inc. Trims Stake in Dorman Products, Inc. (NASDAQ:DORM)

PNC Financial Services Group Inc. decreased its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 8.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,952 shares of the auto parts company’s stock after selling 602 shares during the period. PNC Financial Services Group Inc.’s holdings in Dorman Products were worth $580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Dorman Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,990,436 shares of the auto parts company’s stock worth $249,432,000 after acquiring an additional 24,328 shares during the period. Wellington Management Group LLP purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $1,625,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Dorman Products by 210.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 28,700 shares of the auto parts company’s stock worth $2,394,000 after acquiring an additional 19,447 shares during the period. PEAK6 Investments LLC purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $1,518,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Dorman Products during the 4th quarter worth approximately $1,257,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com upgraded Dorman Products from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. TheStreet upgraded Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th. Finally, Roth Mkm restated a “buy” rating and issued a $116.00 price target on shares of Dorman Products in a research note on Friday, June 14th.

Dorman Products Stock Performance

DORM stock opened at $91.39 on Thursday. The stock has a market capitalization of $2.83 billion, a PE ratio of 18.39 and a beta of 0.83. Dorman Products, Inc. has a 12-month low of $60.01 and a 12-month high of $98.55. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $91.05 and its 200 day simple moving average is $88.07.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.49. The business had revenue of $468.70 million for the quarter, compared to analysts’ expectations of $472.35 million. Dorman Products had a return on equity of 14.61% and a net margin of 8.10%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. As a group, research analysts forecast that Dorman Products, Inc. will post 5.64 earnings per share for the current fiscal year.

Insider Activity at Dorman Products

In related news, SVP Donna M. Long sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $92.06, for a total value of $46,030.00. Following the transaction, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at approximately $1,852,799.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by insiders.

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.