M&T Bank Corp Sells 4,095 Shares of Dorman Products, Inc. (NASDAQ:DORM)

M&T Bank Corp lowered its position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,205 shares of the auto parts company's stock after selling 4,095 shares during the quarter. M&T Bank Corp owned approximately 0.09% of Dorman Products worth $3,524,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DORM. Flagship Harbor Advisors LLC bought a new position in Dorman Products in the fourth quarter valued at about $287,000. Intech Investment Management LLC purchased a new position in Dorman Products during the 3rd quarter worth $2,014,000. Empowered Funds LLC bought a new position in shares of Dorman Products in the fourth quarter valued at approximately $387,000. HighTower Advisors LLC raised its holdings in shares of Dorman Products by 431.9% in the 3rd quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company's stock worth $1,563,000 after purchasing an additional 11,246 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in Dorman Products by 41.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company's stock worth $1,548,000 after buying an additional 3,993 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Insiders Place Their Bets

In other Dorman Products news, SVP Donna M. Long sold 742 shares of Dorman Products stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $130.38, for a total value of $96,741.96. Following the completion of the transaction, the senior vice president now directly owns 19,894 shares in the company, valued at $2,593,779.72. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven L. Berman sold 2,633 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $132.52, for a total value of $348,925.16. Following the transaction, the director now directly owns 833,812 shares in the company, valued at $110,496,766.24. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,090 shares of company stock worth $5,575,927. 10.00% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Dorman Products from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th.

Dorman Products Stock Performance

Shares of DORM stock traded down $0.11 during mid-day trading on Monday, reaching $124.80. The stock had a trading volume of 125,682 shares, compared to its average volume of 193,975. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 20.88 and a beta of 0.84. The business's fifty day moving average is $128.37 and its 200-day moving average is $125.22. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. Dorman Products, Inc. has a 1-year low of $86.61 and a 1-year high of $146.60.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share for the quarter, beating 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 net margin of 9.43% and a return on equity of 16.95%. On average, research analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

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.