Cubist Systematic Strategies LLC Makes New Investment in Dorman Products, Inc. (NASDAQ:DORM)

Cubist Systematic Strategies LLC purchased a new position in shares of Dorman Products, Inc. (NASDAQ:DORM) during the 2nd quarter, HoldingsChannel reports. The firm purchased 30,687 shares of the auto parts company’s stock, valued at approximately $2,807,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quest Partners LLC acquired a new position in Dorman Products during the second quarter worth $37,000. Mather Group LLC. bought a new position in shares of Dorman Products in the 1st quarter valued at approximately $48,000. Rothschild Investment LLC acquired a new stake in Dorman Products in the 2nd quarter worth approximately $66,000. SG Americas Securities LLC acquired a new stake in Dorman Products in the 1st quarter worth approximately $120,000. Finally, Acadian Asset Management LLC bought a new stake in Dorman Products during the first quarter worth approximately $161,000. Institutional investors own 84.70% of the company’s stock.

Dorman Products Stock Up 3.1 %

Shares of DORM stock opened at $113.92 on Friday. Dorman Products, Inc. has a 12 month low of $60.01 and a 12 month high of $119.28. The company has a quick ratio of 1.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.38. The firm has a market cap of $3.53 billion, a PE ratio of 22.92 and a beta of 0.82. The stock has a 50 day moving average of $110.51 and a 200-day moving average of $99.06.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Roth Mkm reissued a “buy” rating and issued a $116.00 price target on shares of Dorman Products in a research report on Friday, June 14th. CJS Securities began coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 target price on the stock. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $113.33.

Insider Buying and Selling

In other Dorman Products news, Director Steven L. Berman sold 1,331 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $116.05, for a total value of $154,462.55. Following the completion of the transaction, the director now owns 879,967 shares of the company’s stock, valued at $102,120,170.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Jeffery Darby sold 1,400 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 23,671 shares of the company’s stock, valued at approximately $2,484,981.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Berman sold 1,331 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $116.05, for a total transaction of $154,462.55. Following the completion of the sale, the director now directly owns 879,967 shares in the company, valued at approximately $102,120,170.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,028 shares of company stock valued at $6,001,614 over the last three months. 10.00% of the stock is owned by corporate 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.