Prudential Financial Inc. Reduces Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Prudential Financial Inc. lowered its position in Dorman Products, Inc. (NASDAQ:DORM) by 12.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,420 shares of the auto parts company’s stock after selling 3,819 shares during the quarter. Prudential Financial Inc. owned about 0.09% of Dorman Products worth $3,694,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Dorman Products by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,028,728 shares of the auto parts company’s stock valued at $392,372,000 after purchasing an additional 91,361 shares during the last quarter. State Street Corp grew its stake in shares of Dorman Products by 8.6% during the third quarter. State Street Corp now owns 1,108,327 shares of the auto parts company’s stock valued at $125,374,000 after buying an additional 87,780 shares during the last quarter. GW&K Investment Management LLC raised its holdings in shares of Dorman Products by 1.5% in the fourth quarter. GW&K Investment Management LLC now owns 597,000 shares of the auto parts company’s stock worth $77,341,000 after buying an additional 8,830 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Dorman Products by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,717 shares of the auto parts company’s stock worth $45,954,000 after acquiring an additional 4,102 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Dorman Products by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 138,082 shares of the auto parts company’s stock valued at $17,889,000 after acquiring an additional 4,247 shares during the period. Institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven L. Berman sold 617 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $123.23, for a total transaction of $76,032.91. Following the transaction, the director now directly owns 832,910 shares in the company, valued at approximately $102,639,499.30. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donna M. Long sold 742 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $130.38, for a total transaction of $96,741.96. Following the completion of the transaction, the senior vice president now directly owns 19,894 shares of the company’s stock, valued at $2,593,779.72. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,842 shares of company stock worth $4,048,449 in the last three months. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 14th.

Dorman Products Stock Performance

Dorman Products stock opened at $122.64 on Wednesday. Dorman Products, Inc. has a fifty-two week low of $86.61 and a fifty-two week high of $146.60. The company has a market capitalization of $3.75 billion, a PE ratio of 20.51 and a beta of 0.84. The company has a 50 day moving average price of $127.54 and a 200-day moving average price of $126.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.21. The business had revenue of $533.77 million during the quarter, compared to analysts’ expectations of $523.95 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. As a group, equities analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

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.