Edgestream Partners L.P. Makes New Investment in Dorman Products, Inc. (NASDAQ:DORM)

Edgestream Partners L.P. bought a new position in shares of Dorman Products, Inc. (NASDAQ:DORM) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 67,954 shares of the auto parts company’s stock, valued at approximately $8,191,000. Edgestream Partners L.P. owned approximately 0.22% of Dorman Products at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in DORM. Jones Financial Companies Lllp grew its holdings in shares of Dorman Products by 518.4% in the 4th quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 197 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Dorman Products by 199.9% in the fourth quarter. Victory Capital Management Inc. now owns 35,215 shares of the auto parts company’s stock valued at $4,562,000 after buying an additional 23,473 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Dorman Products in the fourth quarter valued at approximately $4,810,000. PNC Financial Services Group Inc. raised its position in shares of Dorman Products by 8.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,638 shares of the auto parts company’s stock valued at $990,000 after buying an additional 594 shares in the last quarter. Finally, Amundi increased its stake in Dorman Products by 187.5% in the fourth quarter. Amundi now owns 14,149 shares of the auto parts company’s stock valued at $1,779,000 after acquiring an additional 9,228 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Insider Activity at Dorman Products

In related news, Director John J. Gavin sold 2,900 shares of the company’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 sale, the director directly owned 8,132 shares in the company, valued at approximately $1,066,837.08. This represents a 26.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.90% of the company’s stock.

Dorman Products Trading Down 2.1%

Shares of DORM stock opened at $122.50 on Monday. Dorman Products, Inc. has a 52-week low of $94.00 and a 52-week high of $146.60. The company has a 50-day simple moving average of $125.89 and a two-hundred day simple moving average of $124.60. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 17.58 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 2.62.

Dorman Products (NASDAQ:DORM) last released its earnings results on Monday, May 5th. The auto parts company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.54. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. The firm had revenue of $507.69 million during the quarter, compared to the consensus estimate of $483.09 million. During the same period in the prior year, the firm earned $1.31 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

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 note on Friday, May 16th.

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.