Oppenheimer Asset Management Inc. Acquires 1,556 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Oppenheimer Asset Management Inc. grew its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 19.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,695 shares of the auto parts company’s stock after buying an additional 1,556 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Dorman Products were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Dorman Products by 277.4% during the fourth quarter. Parallel Advisors LLC now owns 317 shares of the auto parts company’s stock worth $26,000 after acquiring an additional 233 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Dorman Products in the 1st quarter worth approximately $34,000. Quest Partners LLC purchased a new position in shares of Dorman Products in the 2nd quarter worth approximately $37,000. Mather Group LLC. bought a new position in shares of Dorman Products during the 1st quarter valued at approximately $48,000. Finally, Rothschild Investment LLC purchased a new stake in Dorman Products during the 2nd quarter valued at $66,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Stock Performance

DORM stock opened at $117.50 on Friday. Dorman Products, Inc. has a twelve month low of $60.01 and a twelve month high of $119.28. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 23.64 and a beta of 0.83. The business’s fifty day simple moving average is $106.55 and its two-hundred day simple moving average is $96.75. The company has a quick ratio of 1.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.38.

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

Analysts Set New Price Targets

Several research firms have commented on DORM. Roth Mkm reaffirmed a “buy” rating and set a $116.00 price objective on shares of Dorman Products in a research note on Friday, June 14th. CJS Securities assumed coverage on shares of Dorman Products in a report on Friday, September 13th. They set an “outperform” rating and a $134.00 price target on the stock. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $113.33.

Insider Activity at Dorman Products

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total transaction of $146,972.00. Following the transaction, the senior vice president now directly owns 23,671 shares in the company, valued at approximately $2,484,981.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total transaction of $146,972.00. Following the transaction, the senior vice president now directly owns 23,671 shares in the company, valued at approximately $2,484,981.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven L. Berman sold 27,632 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the completion of the sale, the director now owns 936,024 shares of the company’s stock, valued at approximately $108,316,697.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,232 shares of company stock worth $3,928,243. Company insiders own 10.00% of the company’s stock.

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.