M&T Bank Corp Cuts Stake in Dorman Products, Inc. (NASDAQ:DORM)

M&T Bank Corp cut its stake in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 87.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,459 shares of the auto parts company's stock after selling 23,746 shares during the period. M&T Bank Corp's holdings in Dorman Products were worth $416,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Dorman Products by 518.4% during the 4th quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company's stock valued at $30,000 after purchasing an additional 197 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Dorman Products by 163.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company's stock valued at $35,000 after purchasing an additional 172 shares in the last quarter. USA Financial Formulas raised its holdings in shares of Dorman Products by 127.6% during the 1st quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock valued at $47,000 after purchasing an additional 217 shares in the last quarter. TD Private Client Wealth LLC bought a new position in shares of Dorman Products during the 4th quarter valued at $49,000. Finally, Blue Trust Inc. raised its holdings in shares of Dorman Products by 42.5% during the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock valued at $61,000 after purchasing an additional 150 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Dorman Products Stock Down 0.9%

DORM traded down $1.07 during trading hours on Friday, hitting $121.33. 143,984 shares of the company's stock were exchanged, compared to its average volume of 190,863. Dorman Products, Inc. has a 1-year low of $94.87 and a 1-year high of $146.60. The stock's 50-day moving average is $125.83 and its two-hundred day moving average is $124.33. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 17.41 and a beta of 0.85. 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 (NASDAQ:DORM - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The auto parts company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.54. The business had revenue of $507.69 million for the quarter, compared to analyst estimates of $483.09 million. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. Dorman Products's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. Sell-side analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John J. Gavin sold 2,900 shares of the business's 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.90% of the company's stock.

Dorman Products Company 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.