Granite Investment Partners LLC Cuts Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

Granite Investment Partners LLC decreased its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,040 shares of the auto parts company’s stock after selling 6,014 shares during the period. Granite Investment Partners LLC owned 0.19% of Dorman Products worth $5,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DORM. Parallel Advisors LLC boosted its holdings in Dorman Products by 277.4% in the fourth quarter. Parallel Advisors LLC now owns 317 shares of the auto parts company’s stock worth $26,000 after acquiring an additional 233 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Dorman Products in the 1st quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in Dorman Products in the 2nd quarter worth approximately $37,000. Mather Group LLC. purchased a new stake in Dorman Products during the 1st quarter worth approximately $48,000. Finally, Rothschild Investment LLC acquired a new position in Dorman Products during the 2nd quarter valued at approximately $66,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dorman Products

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total value of $138,572.00. Following the sale, the senior vice president now owns 25,071 shares in the company, valued at approximately $2,481,527.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total transaction of $138,572.00. Following the completion of the transaction, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $2,481,527.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven L. Berman sold 16,071 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.55, for a total transaction of $1,873,075.05. Following the sale, the director now directly owns 888,656 shares in the company, valued at $103,572,856.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,303 shares of company stock worth $5,801,318. 10.00% of the stock is owned by corporate insiders.

Dorman Products Stock Down 2.0 %

DORM stock opened at $115.11 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.40 and a quick ratio of 1.19. The firm’s fifty day simple moving average is $106.99 and its 200-day simple moving average is $96.92. Dorman Products, Inc. has a 12 month low of $60.01 and a 12 month high of $119.28. The company has a market capitalization of $3.57 billion, a P/E ratio of 23.16 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.48. The company had revenue of $502.95 million for the quarter, compared to the consensus estimate of $497.46 million. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. As a group, equities research analysts forecast that Dorman Products, Inc. will post 6.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DORM. Roth Mkm reiterated a “buy” rating and set a $116.00 price objective on shares of Dorman Products in a research note on Friday, June 14th. CJS Securities started coverage on Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 price target for the company. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $113.33.

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.