Assenagon Asset Management S.A. Sells 36,497 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Assenagon Asset Management S.A. trimmed its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 68.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,634 shares of the auto parts company's stock after selling 36,497 shares during the period. Assenagon Asset Management S.A. owned 0.05% of Dorman Products worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Dorman Products in the fourth quarter worth $387,000. New York State Teachers Retirement System lifted its stake in Dorman Products by 4.2% in the 4th quarter. New York State Teachers Retirement System now owns 24,641 shares of the auto parts company's stock worth $3,192,000 after acquiring an additional 982 shares in the last quarter. Blue Trust Inc. lifted its stake in Dorman Products by 1,581.0% in the 4th quarter. Blue Trust Inc. now owns 353 shares of the auto parts company's stock worth $46,000 after acquiring an additional 332 shares in the last quarter. Principal Securities Inc. boosted its position in Dorman Products by 77.6% during the 4th quarter. Principal Securities Inc. now owns 396 shares of the auto parts company's stock worth $51,000 after acquiring an additional 173 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Dorman Products by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 138,082 shares of the auto parts company's stock valued at $17,889,000 after acquiring an additional 4,247 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Dorman Products from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th.

Dorman Products Stock Up 1.2%

Shares of NASDAQ:DORM traded up $1.44 during trading on Friday, reaching $123.23. 227,059 shares of the company traded hands, compared to its average volume of 187,055. The firm has a fifty day simple moving average of $122.13 and a 200 day simple moving average of $125.77. 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 1-year low of $87.05 and a 1-year high of $146.60. The firm has a market cap of $3.76 billion, a P/E ratio of 17.68 and a beta of 0.87.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The auto parts company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.54. Dorman Products had a return on equity of 19.10% and a net margin of 10.48%. The business had revenue of $507.69 million during the quarter, compared to analyst estimates of $483.09 million. During the same period last year, the company earned $1.31 earnings per share. Dorman Products's quarterly revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Transactions at Dorman Products

In other Dorman Products news, 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 value of $380,451.00. Following the completion of the sale, the director now directly owns 8,132 shares in the company, valued at $1,066,837.08. The trade was a 26.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.90% of the company's stock.

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.