Principal Financial Group Inc. Purchases 3,206 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Principal Financial Group Inc. boosted its stake in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,288 shares of the auto parts company's stock after purchasing an additional 3,206 shares during the period. Principal Financial Group Inc. owned about 0.46% of Dorman Products worth $17,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Dorman Products by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,028,728 shares of the auto parts company's stock valued at $392,372,000 after purchasing an additional 91,361 shares in the last quarter. Northern Trust Corp grew its position in Dorman Products by 10.2% in the fourth quarter. Northern Trust Corp now owns 472,721 shares of the auto parts company's stock worth $61,241,000 after acquiring an additional 43,811 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Dorman Products by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 354,717 shares of the auto parts company's stock worth $45,954,000 after acquiring an additional 4,102 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Dorman Products in the fourth quarter worth approximately $42,495,000. Finally, Norges Bank bought a new stake in Dorman Products in the fourth quarter worth approximately $41,047,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Stock Down 2.1%

DORM stock traded down $2.69 during trading hours on Friday, hitting $122.50. The company's stock had a trading volume of 134,866 shares, compared to its average volume of 190,567. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $3.74 billion, a PE ratio of 17.58 and a beta of 0.85. Dorman Products, Inc. has a 12 month low of $91.70 and a 12 month high of $146.60. The stock has a 50 day moving average price of $125.89 and a two-hundred day moving average price of $124.72.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its earnings results on Monday, May 5th. The auto parts company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.48 by $0.54. The company had revenue of $507.69 million during the quarter, compared to the consensus estimate of $483.09 million. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, equities research analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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.

Insider Activity

In related news, Director John J. Gavin sold 2,900 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 8,132 shares of the company's stock, valued at approximately $1,066,837.08. This represents a 26.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.