Public Sector Pension Investment Board Increases Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

Key Points

• The Public Sector Pension Investment Board increased its stake in Dorman Products by 43.7% in the first quarter, owning 97,201 shares worth approximately $11.7 million.
• Dorman Products reported a quarterly revenue of $540.96 million, exceeding analyst expectations of $517.13 million, with earnings per share of $2.06 compared to the forecast of $1.76.
• Following recent transactions, insiders have decreased their ownership, with Director John J. Gavin selling 2,900 shares at an average price of $131.19.

Public Sector Pension Investment Board increased its stake in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 43.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,201 shares of the auto parts company's stock after acquiring an additional 29,576 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Dorman Products worth $11,717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DORM. USA Financial Formulas raised its stake in Dorman Products by 127.6% during the 1st quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock worth $47,000 after acquiring an additional 217 shares in the last quarter. Blue Trust Inc. raised its stake in Dorman Products by 42.5% during the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after acquiring an additional 150 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Dorman Products by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock worth $69,000 after acquiring an additional 195 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Dorman Products during the 4th quarter worth $86,000. Finally, Vestcor Inc acquired a new stake in Dorman Products during the 1st quarter worth $92,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Dorman Products Stock Performance

NASDAQ DORM traded down $3.34 during trading on Friday, reaching $152.48. The company's stock had a trading volume of 387,241 shares, compared to its average volume of 249,607. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 20.75 and a beta of 0.79. Dorman Products, Inc. has a twelve month low of $105.06 and a twelve month high of $157.59. The business's fifty day moving average price is $127.49 and its 200-day moving average price is $124.84.

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 for the quarter, beating the consensus estimate of $1.76 by $0.30. The business had revenue of $540.96 million for the quarter, compared to the consensus estimate of $517.13 million. Dorman Products had a net margin of 10.83% and a return on equity of 19.23%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share. As a group, analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Dorman Products

In other Dorman Products news, SVP Donna M. Long sold 820 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $122.21, for a total value of $100,212.20. Following the sale, the senior vice president owned 19,074 shares of the company's stock, valued at $2,331,033.54. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $380,451.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 8.90% of the stock is currently owned by insiders.

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.