Maryland State Retirement & Pension System Trims Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Maryland State Retirement & Pension System cut its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,732 shares of the auto parts company’s stock after selling 480 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Dorman Products were worth $890,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Dorman Products by 1.4% during the first quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock worth $292,282,000 after purchasing an additional 41,849 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Dorman Products by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 987,403 shares of the auto parts company’s stock valued at $82,361,000 after buying an additional 26,724 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Dorman Products by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 326,932 shares of the auto parts company’s stock valued at $27,269,000 after buying an additional 14,114 shares during the last quarter. Jennison Associates LLC lifted its stake in Dorman Products by 73.1% in the first quarter. Jennison Associates LLC now owns 283,387 shares of the auto parts company’s stock valued at $27,316,000 after buying an additional 119,707 shares during the last quarter. Finally, Norges Bank bought a new stake in Dorman Products in the fourth quarter valued at $23,298,000. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “buy” rating and issued a $116.00 target price on shares of Dorman Products in a research note on Friday, June 14th.

Dorman Products Stock Performance

DORM stock opened at $113.42 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.19 and a current ratio of 2.40. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 22.82 and a beta of 0.82. Dorman Products, Inc. has a 1 year low of $60.01 and a 1 year high of $114.51. The stock’s fifty day moving average is $100.43 and its two-hundred day moving average is $94.33.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.48. The company had revenue of $502.95 million for the quarter, compared to analysts’ expectations of $497.46 million. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. On average, research analysts predict that Dorman Products, Inc. will post 6.15 EPS for the current year.

Insider Activity

In other news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total transaction of $138,572.00. Following the transaction, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at $2,481,527.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 4,200 shares of company stock valued at $445,116. Company insiders own 10.00% of the company’s stock.

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.