Envestnet Portfolio Solutions Inc. Lowers Position in Dorman Products, Inc. (NASDAQ:DORM)

Envestnet Portfolio Solutions Inc. decreased its position in Dorman Products, Inc. (NASDAQ:DORM) by 22.9% during the 1st quarter, Holdings Channel reports. The fund owned 3,673 shares of the auto parts company’s stock after selling 1,090 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Dorman Products were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DORM. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Dorman Products in the fourth quarter valued at about $42,495,000. Norges Bank acquired a new stake in shares of Dorman Products in the fourth quarter valued at about $41,047,000. Oberweis Asset Management Inc. acquired a new stake in shares of Dorman Products in the fourth quarter valued at about $23,283,000. Wellington Management Group LLP lifted its stake in shares of Dorman Products by 1,136.2% in the fourth quarter. Wellington Management Group LLP now owns 174,717 shares of the auto parts company’s stock valued at $22,635,000 after purchasing an additional 160,584 shares during the period. Finally, Cercano Management LLC acquired a new stake in shares of Dorman Products in the fourth quarter valued at about $16,328,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dorman Products Stock Up 0.7%

Shares of NASDAQ DORM opened at $124.32 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 0.33. Dorman Products, Inc. has a 52 week low of $87.05 and a 52 week high of $146.60. The firm has a 50-day moving average price of $123.33 and a 200 day moving average price of $125.34. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 17.84 and a beta of 0.87.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Monday, May 5th. The auto parts company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.48 by $0.54. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. The firm had revenue of $507.69 million during the quarter, compared to analysts’ expectations of $483.09 million. During the same quarter last year, the business earned $1.31 earnings per share. 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 EPS for the current fiscal year.

Insider Buying and Selling at Dorman Products

In other Dorman Products news, Director John J. Gavin sold 2,900 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $131.19, for a total transaction of $380,451.00. Following the sale, the director now owns 8,132 shares in the company, valued at approximately $1,066,837.08. This represents a 26.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.90% of the stock is owned by insiders.

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.