Principal Financial Group Inc. Has $15.14 Million Position in Dorman Products, Inc. (NASDAQ:DORM)

Principal Financial Group Inc. reduced its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,835 shares of the auto parts company’s stock after selling 4,654 shares during the period. Principal Financial Group Inc. owned 0.44% of Dorman Products worth $15,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DORM. SG Americas Securities LLC purchased a new position in shares of Dorman Products during the 1st quarter valued at $120,000. Sei Investments Co. grew its holdings in shares of Dorman Products by 2.6% during the 1st quarter. Sei Investments Co. now owns 8,688 shares of the auto parts company’s stock valued at $837,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE grew its holdings in shares of Dorman Products by 5.9% during the 1st quarter. US Bancorp DE now owns 8,212 shares of the auto parts company’s stock valued at $792,000 after acquiring an additional 460 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Dorman Products by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 5,356 shares of the auto parts company’s stock valued at $516,000 after acquiring an additional 366 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Dorman Products by 25.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,446 shares of the auto parts company’s stock valued at $910,000 after acquiring an additional 1,926 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dorman Products

In related news, SVP Scott Leff sold 5,536 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $132.66, for a total transaction of $734,405.76. Following the completion of the transaction, the senior vice president now directly owns 13,336 shares in the company, valued at $1,769,153.76. This represents a 29.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven L. Berman sold 27,632 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the transaction, the director now owns 936,024 shares of the company’s stock, valued at approximately $108,316,697.28. This represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,833 shares of company stock valued at $7,050,877 in the last quarter. Company insiders own 10.00% of the company’s stock.

Dorman Products Stock Performance

Shares of DORM opened at $134.73 on Friday. The firm has a 50-day moving average of $118.55 and a 200-day moving average of $104.61. Dorman Products, Inc. has a one year low of $69.63 and a one year high of $146.60. The company has a market cap of $4.11 billion, a PE ratio of 22.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.53 by $0.43. The business had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. Dorman Products’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. As a group, equities analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on DORM. CJS Securities initiated coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and set a $153.00 price objective (up previously from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $125.67.

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.