Zions Bancorporation National Association UT Acquires Shares of 9,534 Dorman Products, Inc. (NASDAQ:DORM)

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 bought a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,534 shares of the auto parts company's stock, valued at approximately $1,149,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DORM. Captrust Financial Advisors increased its holdings in shares of Dorman Products by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company's stock worth $247,000 after buying an additional 79 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Dorman Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company's stock worth $350,000 after buying an additional 87 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Dorman Products by 5.7% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,644 shares of the auto parts company's stock worth $213,000 after buying an additional 88 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Dorman Products by 3.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,469 shares of the auto parts company's stock worth $298,000 after buying an additional 90 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Dorman Products by 4.8% in the first quarter. Xponance Inc. now owns 1,966 shares of the auto parts company's stock worth $237,000 after buying an additional 90 shares during the period. Institutional investors own 84.70% of the company's stock.

Dorman Products Stock Performance

NASDAQ DORM traded down $1.55 on Thursday, hitting $154.72. 121,503 shares of the company traded hands, compared to its average volume of 219,588. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 21.05 and a beta of 0.79. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The business's 50 day moving average price is $126.39 and its 200-day moving average price is $124.60. Dorman Products, Inc. has a 52-week low of $104.56 and a 52-week high of $156.90.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Dorman Products from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th.

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.