Cornerstone Investment Partners LLC Sells 1,115 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Cornerstone Investment Partners LLC decreased its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 19.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,583 shares of the auto parts company’s stock after selling 1,115 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Dorman Products were worth $594,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DORM. Fiera Capital Corp purchased a new stake in Dorman Products during the third quarter valued at $25,571,000. State Street Corp raised its stake in 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 purchasing an additional 87,780 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Dorman Products by 173.6% during the third quarter. JPMorgan Chase & Co. now owns 133,341 shares of the auto parts company’s stock valued at $15,084,000 after purchasing an additional 84,613 shares in the last quarter. Royce & Associates LP raised its stake in Dorman Products by 17.6% during the third quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company’s stock valued at $59,262,000 after purchasing an additional 78,496 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Dorman Products by 13.9% during the third quarter. Jennison Associates LLC now owns 454,852 shares of the auto parts company’s stock valued at $51,453,000 after purchasing an additional 55,615 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and set a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. StockNews.com upgraded shares of Dorman Products from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Insider Buying and Selling

In related news, Director Steven L. Berman sold 8,524 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $131.79, for a total value of $1,123,377.96. Following the transaction, the director now owns 773,094 shares of the company’s stock, valued at $101,886,058.26. This trade represents a 1.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 41,348 shares of company stock valued at $5,479,185 in the last 90 days. Company insiders own 10.00% of the company’s stock.

Dorman Products Trading Down 0.2 %

DORM stock opened at $131.20 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. Dorman Products, Inc. has a twelve month low of $86.61 and a twelve month high of $146.60. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 21.94 and a beta of 0.88. The firm’s fifty day simple moving average is $128.60 and its two-hundred day simple moving average is $124.42.

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

Dorman Products 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.