Covestor Ltd Raises Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Covestor Ltd lifted its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 781.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 379 shares of the auto parts company’s stock after purchasing an additional 336 shares during the period. Covestor Ltd’s holdings in Dorman Products were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in 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 purchasing an additional 41,849 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Dorman Products by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,044 shares of the auto parts company’s stock valued at $94,136,000 after purchasing an additional 24,811 shares in the last quarter. Summit Creek Advisors LLC increased its stake in Dorman Products by 0.6% in the 1st quarter. Summit Creek Advisors LLC now owns 227,303 shares of the auto parts company’s stock valued at $21,910,000 after purchasing an additional 1,400 shares in the last quarter. Fiera Capital Corp purchased a new position in Dorman Products in the 3rd quarter valued at approximately $25,571,000. Finally, Assenagon Asset Management S.A. increased its stake in Dorman Products by 5.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company’s stock valued at $20,526,000 after purchasing an additional 10,915 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Price Performance

Shares of NASDAQ:DORM opened at $134.73 on Friday. The business’s fifty day moving average price is $118.55 and its two-hundred day moving average price is $104.61. The stock has a market cap of $4.11 billion, a PE ratio of 22.53 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. Dorman Products, Inc. has a one year low of $69.63 and a one year high of $146.60.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.43. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The firm had revenue of $503.77 million for the quarter, compared to analysts’ expectations of $509.54 million. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dorman Products

In other Dorman Products news, Director Steven L. Berman sold 2,669 shares of Dorman Products stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $112.57, for a total value of $300,449.33. Following the completion of the transaction, the director now directly owns 876,156 shares in the company, valued at $98,628,880.92. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffery Darby sold 2,400 shares of Dorman Products stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $118.98, for a total value of $285,552.00. Following the completion of the transaction, the senior vice president now owns 19,871 shares of the company’s stock, valued at approximately $2,364,251.58. The trade was a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,833 shares of company stock valued at $7,050,877 over the last three months. 10.00% of the stock is owned by company insiders.

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.