Trust Point Inc. Takes $489,000 Position in Dorman Products, Inc. (NASDAQ:DORM)

Trust Point Inc. acquired a new stake in Dorman Products, Inc. (NASDAQ:DORM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,865 shares of the auto parts company’s stock, valued at approximately $489,000.

Several other institutional investors and hedge funds have also modified their holdings of DORM. Morgan Stanley lifted its holdings in shares of Dorman Products by 790.0% in the 4th quarter. Morgan Stanley now owns 1,872,736 shares of the auto parts company’s stock valued at $151,448,000 after buying an additional 1,662,313 shares during the period. Norges Bank acquired a new position in shares of Dorman Products in the 4th quarter valued at about $20,433,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Dorman Products by 26.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,098,866 shares of the auto parts company’s stock valued at $120,557,000 after buying an additional 229,438 shares during the period. Ameriprise Financial Inc. raised its holdings in Dorman Products by 39.7% in the 1st quarter. Ameriprise Financial Inc. now owns 672,473 shares of the auto parts company’s stock worth $58,007,000 after purchasing an additional 191,214 shares during the period. Finally, Jennison Associates LLC acquired a new position in Dorman Products in the 3rd quarter worth about $13,507,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Price Performance

NASDAQ:DORM opened at $96.37 on Friday. Dorman Products, Inc. has a 12 month low of $60.01 and a 12 month high of $98.55. The stock has a 50 day moving average of $88.81 and a two-hundred day moving average of $80.75. The company has a current ratio of 2.25, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3.00 billion, a P/E ratio of 23.50 and a beta of 0.81.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, February 26th. The auto parts company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.41 by $0.16. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. The company had revenue of $494.30 million during the quarter, compared to analyst estimates of $494.86 million. During the same period in the previous year, the business earned $1.01 EPS. Dorman Products’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts expect that Dorman Products, Inc. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DORM shares. Barrington Research reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Dorman Products in a report on Tuesday, February 27th. TheStreet raised Dorman Products from a “c+” rating to a “b” rating in a report on Wednesday, March 20th. StockNews.com raised Dorman Products from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $116.00 price target on shares of Dorman Products in a report on Monday, March 25th.

Dorman Products Company 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.