Principal Financial Group Inc. Has $15.14 Million Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Principal Financial Group Inc. cut its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 133,835 shares of the auto parts company’s stock after selling 4,654 shares during the period. Principal Financial Group Inc.’s holdings in Dorman Products were worth $15,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Dorman Products during the third quarter valued at $2,014,000. HighTower Advisors LLC lifted its holdings in shares of Dorman Products by 431.9% during the 3rd quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company’s stock valued at $1,563,000 after buying an additional 11,246 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Dorman Products by 41.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company’s stock valued at $1,548,000 after buying an additional 3,993 shares in the last quarter. Barclays PLC increased its holdings in Dorman Products by 380.7% in the third quarter. Barclays PLC now owns 46,842 shares of the auto parts company’s stock worth $5,298,000 after buying an additional 37,098 shares during the last quarter. Finally, Raymond James & Associates raised its position in Dorman Products by 26.7% during the third quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company’s stock valued at $3,944,000 after acquiring an additional 7,349 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Down 0.6 %

Shares of DORM stock opened at $132.19 on Friday. Dorman Products, Inc. has a 12 month low of $79.20 and a 12 month high of $146.60. The company has a market cap of $4.03 billion, a PE ratio of 22.11 and a beta of 0.87. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $132.22 and its two-hundred day moving average is $113.78.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.53 by $0.43. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The firm had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. During the same quarter last year, the firm posted $1.40 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities analysts predict that Dorman Products, Inc. will post 6.9 EPS for the current year.

Insider Buying and Selling

In other news, Director Steven L. Berman sold 2,633 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $132.52, for a total transaction of $348,925.16. Following the completion of the transaction, the director now owns 833,812 shares of the company’s stock, valued at approximately $110,496,766.24. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffery Darby sold 2,400 shares of Dorman Products stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $124.98, for a total value of $299,952.00. Following the sale, the senior vice president now directly owns 17,471 shares in the company, valued at approximately $2,183,525.58. This trade represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,593 shares of company stock valued at $4,907,310. Insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on DORM shares. Roth Mkm reissued a “buy” rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. CJS Securities began coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 price objective for the company. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Dorman Products currently has an average rating of “Buy” and a consensus price target of $125.67.

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.