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

M&T Bank Corp decreased its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 87.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,459 shares of the auto parts company's stock after selling 23,746 shares during the quarter. M&T Bank Corp's holdings in Dorman Products were worth $416,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Dorman Products in the 4th quarter valued at $42,495,000. Norges Bank acquired a new stake in shares of Dorman Products during the 4th quarter worth approximately $41,047,000. Oberweis Asset Management Inc. acquired a new position in shares of Dorman Products in the 4th quarter valued at $23,283,000. Wellington Management Group LLP boosted its holdings in Dorman Products by 1,136.2% during the fourth quarter. Wellington Management Group LLP now owns 174,717 shares of the auto parts company's stock worth $22,635,000 after buying an additional 160,584 shares during the last quarter. Finally, Cercano Management LLC acquired a new position in Dorman Products during the fourth quarter valued at approximately $16,328,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director John J. Gavin sold 2,900 shares of the business'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 transaction, the director owned 8,132 shares in the company, valued at $1,066,837.08. The trade was a 26.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.90% of the stock is currently owned by insiders.

Dorman Products Stock Down 0.9%

Shares of DORM traded down $1.07 during trading hours on Friday, reaching $121.33. The stock had a trading volume of 143,984 shares, compared to its average volume of 190,863. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $125.83 and a 200 day simple moving average of $124.33. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.41 and a beta of 0.85. Dorman Products, Inc. has a 12 month low of $94.87 and a 12 month high of $146.60.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its earnings results 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 net margin of 10.48% and a return on equity of 19.10%. The company had revenue of $507.69 million during the quarter, compared to analyst estimates of $483.09 million. During the same period in the previous year, the business earned $1.31 earnings per share. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

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.