Dorman Products, Inc. (NASDAQ:DORM) Position Reduced by Pitcairn Co.

Pitcairn Co. reduced its position in Dorman Products, Inc. (NASDAQ:DORM) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,404 shares of the auto parts company’s stock after selling 492 shares during the period. Pitcairn Co.’s holdings in Dorman Products were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in Dorman Products during the 3rd quarter worth approximately $31,000. Farther Finance Advisors LLC grew its holdings in shares of Dorman Products by 5,460.0% during the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock valued at $31,000 after buying an additional 273 shares in the last quarter. Covestor Ltd grew its holdings in shares of Dorman Products by 781.4% during the third quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock valued at $43,000 after buying an additional 336 shares in the last quarter. Quest Partners LLC acquired a new position in Dorman Products during the second quarter valued at $37,000. Finally, GAMMA Investing LLC lifted its stake in Dorman Products by 63.2% in the 3rd quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Buying and Selling

In other Dorman Products news, Director Steven L. Berman sold 215 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.01, for a total value of $25,157.15. Following the completion of the sale, the director now owns 881,298 shares of the company’s stock, valued at $103,120,678.98. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donna M. Long sold 3,277 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $134.79, for a total value of $441,706.83. Following the transaction, the senior vice president now directly owns 20,126 shares in the company, valued at approximately $2,712,783.54. This represents a 14.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,710 shares of company stock worth $7,333,012. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DORM shares. CJS Securities started coverage on Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 target price on the stock. Roth Mkm reiterated a “buy” rating and issued a $153.00 price objective (up previously from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $125.67.

Dorman Products Stock Up 1.6 %

DORM opened at $141.70 on Tuesday. The company has a market capitalization of $4.32 billion, a PE ratio of 23.70 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. Dorman Products, Inc. has a fifty-two week low of $69.77 and a fifty-two week high of $146.60. The business has a 50-day moving average of $121.08 and a 200-day moving average of $106.42.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $509.54 million. During the same period in the previous year, the company earned $1.40 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

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.