Bank of New York Mellon Corp Reduces Position in Dorman Products, Inc. (NASDAQ:DORM)

Bank of New York Mellon Corp decreased its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 187,045 shares of the auto parts company’s stock after selling 3,914 shares during the quarter. Bank of New York Mellon Corp’s holdings in Dorman Products were worth $24,232,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DORM. Westside Investment Management Inc. purchased a new position in Dorman Products during the third quarter worth $29,000. Farther Finance Advisors LLC increased its position in Dorman Products by 5,460.0% during the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after buying an additional 273 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Dorman Products during the third quarter worth $31,000. Quent Capital LLC purchased a new position in Dorman Products during the fourth quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Dorman Products during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Activity at Dorman Products

In related news, Director Steven L. Berman sold 617 shares of Dorman Products stock in a transaction on Monday, January 13th. The stock was sold at an average price of $123.23, for a total value of $76,032.91. Following the transaction, the director now owns 832,910 shares in the company, valued at approximately $102,639,499.30. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donna M. Long sold 742 shares of Dorman Products stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total value of $96,741.96. Following the completion of the transaction, the senior vice president now owns 19,894 shares in the company, valued at $2,593,779.72. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,090 shares of company stock worth $5,575,927. 10.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Dorman Products from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th.

Dorman Products Price Performance

DORM stock opened at $124.91 on Monday. Dorman Products, Inc. has a 52-week low of $86.61 and a 52-week high of $146.60. The stock’s fifty day simple moving average is $128.37 and its 200-day simple moving average is $125.22. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 20.89 and a beta of 0.84.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.21. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The business had revenue of $533.77 million for the quarter, compared to analysts’ expectations of $523.95 million. Equities research analysts expect that Dorman Products, Inc. will post 6.9 EPS for the current 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.