9,534 Shares in Dorman Products, Inc. (NASDAQ:DORM) Acquired by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT has acquired 9,534 shares of Dorman Products, Inc., valued at approximately $1,149,000, as part of its first quarter investment strategy.
• Several institutional investors, including USA Financial Formulas and Blue Trust Inc., have significantly increased their stakes in Dorman Products during the first quarter, reflecting a trend of growing institutional interest.
• Analysts have recently downgraded Dorman Products' stock rating from "strong-buy" to "buy", indicating a cautious outlook despite the company's strong earnings report that exceeded expectations.

Zions Bancorporation National Association UT acquired a new position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,534 shares of the auto parts company's stock, valued at approximately $1,149,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DORM. USA Financial Formulas raised its stake in Dorman Products by 127.6% during the 1st quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock worth $47,000 after acquiring an additional 217 shares during the period. Blue Trust Inc. raised its stake in Dorman Products by 42.5% during the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after acquiring an additional 150 shares during the period. TD Private Client Wealth LLC raised its stake in Dorman Products by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock worth $69,000 after acquiring an additional 195 shares during the period. Covestor Ltd raised its stake in Dorman Products by 46.4% during the 4th quarter. Covestor Ltd now owns 555 shares of the auto parts company's stock worth $72,000 after acquiring an additional 176 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in Dorman Products during the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

Dorman Products Price Performance

NASDAQ DORM opened at $139.57 on Friday. Dorman Products, Inc. has a 12 month low of $103.08 and a 12 month high of $146.60. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 18.99 and a beta of 0.79. The company's 50 day moving average is $125.04 and its two-hundred day moving average is $124.17. The company has a current ratio of 2.74, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31.

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

Insider Activity at Dorman Products

In other news, SVP Donna M. Long sold 820 shares of Dorman Products stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $122.21, for a total transaction of $100,212.20. Following the sale, the senior vice president owned 19,074 shares in the company, valued at $2,331,033.54. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John J. Gavin sold 2,900 shares of Dorman Products stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $131.19, for a total transaction of $380,451.00. Following the sale, the director owned 8,132 shares in the company, valued at approximately $1,066,837.08. The trade was a 26.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.