M&T Bank Corp Increases Stake in Dorman Products, Inc. (NASDAQ:DORM)

M&T Bank Corp increased its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 22.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,300 shares of the auto parts company's stock after purchasing an additional 5,662 shares during the period. M&T Bank Corp owned 0.10% of Dorman Products worth $3,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp purchased a new stake in shares of Dorman Products during the third quarter worth approximately $25,571,000. State Street Corp raised its position in Dorman Products by 8.6% during the 3rd quarter. State Street Corp now owns 1,108,327 shares of the auto parts company's stock worth $125,374,000 after buying an additional 87,780 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Dorman Products by 17.6% in the 3rd quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company's stock worth $59,262,000 after acquiring an additional 78,496 shares during the period. Jennison Associates LLC lifted its stake in shares of Dorman Products by 13.9% in the 3rd quarter. Jennison Associates LLC now owns 454,852 shares of the auto parts company's stock worth $51,453,000 after acquiring an additional 55,615 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of Dorman Products by 33.1% in the third quarter. ArrowMark Colorado Holdings LLC now owns 153,688 shares of the auto parts company's stock valued at $17,385,000 after acquiring an additional 38,188 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dorman Products

In other news, SVP Eric Luftig sold 3,278 shares of Dorman Products stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the completion of the sale, the senior vice president now directly owns 5,934 shares in the company, valued at $837,821.46. The trade was a 35.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven L. Berman sold 215 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $117.01, for a total transaction of $25,157.15. Following the completion of the transaction, the director now directly owns 881,298 shares of the company's stock, valued at approximately $103,120,678.98. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,173 shares of company stock valued at $8,936,331. Insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DORM. Roth Mkm restated a "buy" rating and issued a $153.00 price objective (up previously from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. CJS Securities started coverage on Dorman Products in a research note on Friday, September 13th. They issued an "outperform" rating and a $134.00 price target on the stock. Four analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products currently has a consensus rating of "Buy" and a consensus target price of $125.67.

Dorman Products Price Performance

Dorman Products stock traded down $2.61 during mid-day trading on Friday, reaching $137.23. The company had a trading volume of 107,857 shares, compared to its average volume of 137,139. The stock's 50-day simple moving average is $128.82 and its 200-day simple moving average is $111.20. Dorman Products, Inc. has a 1 year low of $79.20 and a 1 year high of $146.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. The company has a market capitalization of $4.19 billion, a P/E ratio of 22.95 and a beta of 0.87.

Dorman Products (NASDAQ:DORM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.43. The firm had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. Dorman Products's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. On average, equities analysts predict that Dorman Products, Inc. will post 6.9 EPS 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.