Norges Bank Makes New Investment in Dorman Products, Inc. (NASDAQ:DORM)

Norges Bank bought a new position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 316,842 shares of the auto parts company's stock, valued at approximately $41,047,000. Norges Bank owned about 1.04% of Dorman Products at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. bought a new stake in shares of Dorman Products in the 3rd quarter worth approximately $29,000. Jones Financial Companies Lllp raised its position in Dorman Products by 518.4% in the 4th quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company's stock valued at $30,000 after purchasing an additional 197 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Dorman Products in the 4th quarter valued at $31,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Dorman Products in the 4th quarter valued at $42,000. Finally, Blue Trust Inc. increased its stake in shares of Dorman Products by 1,581.0% in the 4th quarter. Blue Trust Inc. now owns 353 shares of the auto parts company's stock valued at $46,000 after buying an additional 332 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.

Insiders Place Their Bets

In related news, Director Steven L. Berman sold 285 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $123.50, for a total transaction of $35,197.50. Following the sale, the director now owns 833,527 shares of the company's stock, valued at $102,940,584.50. This represents a 0.03 % 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, SVP Donna M. Long sold 742 shares of the company's stock in a transaction 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 sale, the senior vice president now owns 19,894 shares of the company's stock, valued at $2,593,779.72. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,842 shares of company stock valued at $4,048,449 over the last 90 days. 10.00% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 14th.

Dorman Products Trading Down 2.2 %

DORM stock traded down $2.56 during midday trading on Thursday, hitting $115.87. 20,160 shares of the company's stock were exchanged, compared to its average volume of 216,995. The stock's fifty day moving average price is $125.08 and its 200-day moving average price is $126.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The company has a market cap of $3.54 billion, a PE ratio of 19.38 and a beta of 0.87. Dorman Products, Inc. has a one year low of $86.61 and a one year high of $146.60.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.21. The firm had revenue of $533.77 million for the quarter, compared to the consensus estimate of $523.95 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. Research analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal 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.