Dorman Products, Inc. (NASDAQ:DORM) Director Sells $1,873,075.05 in Stock

Dorman Products, Inc. (NASDAQ:DORM) Director Steven L. Berman sold 16,071 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.55, for a total transaction of $1,873,075.05. Following the transaction, the director now owns 888,656 shares in the company, valued at $103,572,856.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Dorman Products Trading Down 2.0 %

Shares of NASDAQ DORM opened at $115.11 on Monday. The company’s 50 day simple moving average is $106.99 and its 200 day simple moving average is $97.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.40 and a quick ratio of 1.19. Dorman Products, Inc. has a fifty-two week low of $60.01 and a fifty-two week high of $119.28. The firm has a market capitalization of $3.57 billion, a P/E ratio of 23.16 and a beta of 0.83.

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

Wall Street Analysts Forecast Growth

DORM has been the subject of several research analyst reports. Roth Mkm restated a “buy” rating and issued a $116.00 price objective on shares of Dorman Products in a research report on Friday, June 14th. CJS Securities started coverage on Dorman Products in a research note on Friday, September 13th. They set an “outperform” rating and a $134.00 price target on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $113.33.

Hedge Funds Weigh In On Dorman Products

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Dorman Products during the 4th quarter worth approximately $23,298,000. Jennison Associates LLC raised its holdings 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 worth $27,316,000 after purchasing an additional 119,707 shares during the period. Nordea Investment Management AB bought a new position in shares of Dorman Products during the first quarter worth $10,907,000. Vanguard Group Inc. grew its holdings in shares of Dorman Products by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock valued at $292,282,000 after buying an additional 41,849 shares during the period. Finally, Algert Global LLC increased its position in shares of Dorman Products by 404.4% in the 2nd quarter. Algert Global LLC now owns 39,149 shares of the auto parts company’s stock valued at $3,581,000 after buying an additional 31,387 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.