Jennison Associates LLC Sells 14,612 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Jennison Associates LLC decreased its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 8.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 163,680 shares of the auto parts company’s stock after selling 14,612 shares during the period. Jennison Associates LLC’s holdings in Dorman Products were worth $13,653,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DORM. Assenagon Asset Management S.A. increased its holdings in shares of Dorman Products by 182.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 213,464 shares of the auto parts company’s stock worth $17,805,000 after buying an additional 137,979 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Dorman Products by 47.0% during the third quarter. Envestnet Asset Management Inc. now owns 145,412 shares of the auto parts company’s stock valued at $11,016,000 after purchasing an additional 46,492 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Dorman Products in the third quarter worth approximately $1,237,000. Louisiana State Employees Retirement System purchased a new position in shares of Dorman Products in the fourth quarter worth $1,184,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Dorman Products by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 312,818 shares of the auto parts company’s stock valued at $23,699,000 after buying an additional 12,434 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DORM. Roth Mkm restated a “buy” rating and set a $116.00 price target on shares of Dorman Products in a report on Monday, March 25th. Barrington Research reiterated an “outperform” rating and issued a $90.00 price target on shares of Dorman Products in a report on Tuesday, February 27th. TheStreet raised shares of Dorman Products from a “c+” rating to a “b” rating in a research report on Wednesday, March 20th. Finally, StockNews.com raised shares of Dorman Products from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th.

Dorman Products Price Performance

Shares of DORM stock opened at $88.08 on Friday. Dorman Products, Inc. has a twelve month low of $60.01 and a twelve month high of $98.55. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 21.48 and a beta of 0.81. The company has a quick ratio of 1.09, a current ratio of 2.25 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $90.90 and its 200 day moving average is $82.12.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Monday, February 26th. The auto parts company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.16. Dorman Products had a net margin of 6.70% and a return on equity of 12.92%. The business had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $494.86 million. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Research analysts expect that Dorman Products, Inc. will post 5.55 EPS 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.