Principal Financial Group Inc. Increases Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Principal Financial Group Inc. boosted its position in shares of Dorman Products, Inc. (NASDAQ:DORM – Get Rating) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,977 shares of the auto parts company’s stock after buying an additional 596 shares during the period. Principal Financial Group Inc.’s holdings in Dorman Products were worth $14,231,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of Dorman Products in the 2nd quarter valued at approximately $26,000. Bessemer Group Inc. boosted its stake in shares of Dorman Products by 103.2% in the third quarter. Bessemer Group Inc. now owns 565 shares of the auto parts company’s stock valued at $46,000 after buying an additional 287 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Dorman Products by 49.2% in the third quarter. Quadrant Capital Group LLC now owns 619 shares of the auto parts company’s stock valued at $51,000 after buying an additional 204 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Dorman Products by 35.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 739 shares of the auto parts company’s stock valued at $60,000 after buying an additional 195 shares in the last quarter. Finally, Silvant Capital Management LLC purchased a new stake in shares of Dorman Products in the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 75.21% of the company’s stock.

Wall Street Analysts Forecast Growth

DORM has been the topic of a number of analyst reports. Barrington Research decreased their price target on Dorman Products from $130.00 to $127.00 in a research note on Tuesday, May 2nd. TheStreet downgraded Dorman Products from a “b-” rating to a “c+” rating in a research note on Wednesday, May 3rd. StockNews.com initiated coverage on Dorman Products in a report on Thursday, May 18th. They set a “hold” rating for the company. Stephens lifted their price objective on Dorman Products from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Dorman Products in a report on Tuesday, February 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

Insider Buying and Selling at Dorman Products

In other Dorman Products news, Chairman Steven L. Berman sold 3,616 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $90.62, for a total transaction of $327,681.92. Following the completion of the sale, the chairman now owns 996,764 shares of the company’s stock, valued at $90,326,753.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Jeffery Darby sold 753 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $91.04, for a total value of $68,553.12. Following the completion of the sale, the senior vice president now owns 24,054 shares of the company’s stock, valued at $2,189,876.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven L. Berman sold 3,616 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $90.62, for a total value of $327,681.92. Following the completion of the sale, the chairman now directly owns 996,764 shares of the company’s stock, valued at approximately $90,326,753.68. The disclosure for this sale can be found here. 10.30% of the stock is owned by company insiders.

Dorman Products Stock Performance

Dorman Products stock opened at $84.63 on Thursday. The firm has a market capitalization of $2.66 billion, a P/E ratio of 28.98 and a beta of 0.56. The stock has a fifty day moving average price of $85.00 and a 200 day moving average price of $87.02. Dorman Products, Inc. has a 52 week low of $73.32 and a 52 week high of $119.04. The company has a current ratio of 1.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46.

Dorman Products (NASDAQ:DORM – Get Rating) last released its earnings results on Tuesday, May 2nd. The auto parts company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.38). The business had revenue of $466.74 million during the quarter, compared to analyst estimates of $487.43 million. Dorman Products had a net margin of 5.12% and a return on equity of 12.38%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. Equities research analysts anticipate that Dorman Products, Inc. will post 5.16 earnings per share for the current year.

About Dorman Products

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Dorman Products, Inc engages in the supply of automotive replacement and upgrade parts for the motor vehicle aftermarket industry. Its products include automotive body, steering and suspension, undercar, underhood, hardware and accessories, and heavy-duty components. The company was founded by Steven L.