Jennison Associates LLC Trims Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Jennison Associates LLC lessened its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,680 shares of the auto parts company’s stock after selling 14,612 shares during the quarter. Jennison Associates LLC owned 0.52% of Dorman Products worth $13,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mariner LLC increased its stake in Dorman Products by 2.2% during the third quarter. Mariner LLC now owns 8,689 shares of the auto parts company’s stock worth $658,000 after purchasing an additional 189 shares during the period. Quantbot Technologies LP lifted its holdings in Dorman Products by 17.5% during the 3rd quarter. Quantbot Technologies LP now owns 1,375 shares of the auto parts company’s stock worth $104,000 after buying an additional 205 shares in the last quarter. Headinvest LLC purchased a new position in Dorman Products in the 3rd quarter valued at approximately $30,000. Swiss National Bank raised its stake in shares of Dorman Products by 0.9% in the third quarter. Swiss National Bank now owns 58,800 shares of the auto parts company’s stock valued at $4,455,000 after acquiring an additional 500 shares in the last quarter. Finally, OLD National Bancorp IN boosted its holdings in Dorman Products by 18.6% in the third quarter. OLD National Bancorp IN now owns 3,743 shares of the auto parts company’s stock valued at $284,000 after purchasing an additional 586 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Stock Performance

NASDAQ DORM opened at $88.08 on Friday. Dorman Products, Inc. has a 1-year low of $60.01 and a 1-year high of $98.55. The company has a market capitalization of $2.73 billion, a P/E ratio of 21.48 and a beta of 0.81. The business has a 50 day moving average price of $90.90 and a 200 day moving average price of $82.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.25 and a quick ratio of 1.09.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $116.00 price objective on shares of Dorman Products in a research note on Monday, March 25th. TheStreet upgraded shares of Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th. StockNews.com raised shares of Dorman Products from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Dorman Products in a research report on Tuesday, February 27th.

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.