Walleye Capital LLC Makes New Investment in Dorman Products, Inc. (NASDAQ:DORM)

Walleye Capital LLC acquired a new position in shares of Dorman Products, Inc. (NASDAQ:DORM) during the third quarter, HoldingsChannel.com reports. The fund acquired 3,094 shares of the auto parts company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in shares of Dorman Products by 5.1% during the second quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company’s stock worth $20,526,000 after acquiring an additional 10,915 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Dorman Products during the third quarter worth about $2,014,000. Oppenheimer Asset Management Inc. increased its position in shares of Dorman Products by 41.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company’s stock worth $1,548,000 after acquiring an additional 3,993 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Dorman Products by 1,595.0% during the second quarter. SG Americas Securities LLC now owns 21,035 shares of the auto parts company’s stock worth $1,924,000 after acquiring an additional 19,794 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Dorman Products by 26.7% during the third quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company’s stock worth $3,944,000 after acquiring an additional 7,349 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Stock Down 0.8 %

Shares of Dorman Products stock opened at $137.42 on Tuesday. 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 firm has a market cap of $4.19 billion, a P/E ratio of 22.98 and a beta of 0.87. Dorman Products, Inc. has a fifty-two week low of $74.24 and a fifty-two week high of $146.60. The business has a 50-day moving average price of $126.52 and a 200 day moving average price of $110.13.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, SVP Eric Luftig sold 3,278 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $141.19, for a total transaction of $462,820.82. Following the completion of the transaction, the senior vice president now directly owns 5,934 shares of the company’s stock, valued at approximately $837,821.46. This represents a 35.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffery Darby sold 2,400 shares of the company’s 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 transaction, the senior vice president now directly owns 19,871 shares of the company’s stock, valued at $2,364,251.58. This trade represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,173 shares of company stock valued at $8,936,331. 10.00% of the stock is currently owned by insiders.

Dorman Products Company 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.