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

Covestor Ltd grew its position in Dorman Products, Inc. (NASDAQ:DORM) by 781.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 379 shares of the auto parts company’s stock after buying an additional 336 shares during the quarter. Covestor Ltd’s holdings in Dorman Products were worth $43,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new stake in shares of Dorman Products during the 1st quarter worth $608,000. Assenagon Asset Management S.A. lifted its stake in shares of Dorman Products by 5.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company’s stock worth $20,526,000 after purchasing an additional 10,915 shares during the last quarter. PEAK6 Investments LLC increased its position in Dorman Products by 69.7% during the 1st quarter. PEAK6 Investments LLC now owns 30,896 shares of the auto parts company’s stock valued at $2,978,000 after buying an additional 12,691 shares in the last quarter. SG Americas Securities LLC increased its position in Dorman Products by 1,595.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,035 shares of the auto parts company’s stock valued at $1,924,000 after buying an additional 19,794 shares in the last quarter. Finally, Raymond James & Associates increased its position in Dorman Products by 26.7% during the 3rd quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company’s stock valued at $3,944,000 after buying an additional 7,349 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. 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. CJS Securities began coverage on Dorman Products in a research report on Friday, September 13th. They issued 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 an average rating of “Buy” and an average target price of $125.67.

Insider Activity

In related news, SVP Scott Leff sold 5,536 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $132.66, for a total value of $734,405.76. Following the transaction, the senior vice president now owns 13,336 shares in the company, valued at $1,769,153.76. The trade was a 29.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven L. Berman sold 215 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $117.01, for a total value of $25,157.15. Following the completion of the transaction, the director now owns 881,298 shares in the company, valued at $103,120,678.98. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,833 shares of company stock valued at $7,050,877. Insiders own 10.00% of the company’s stock.

Dorman Products Trading Down 0.9 %

Shares of NASDAQ DORM opened at $134.73 on Friday. Dorman Products, Inc. has a twelve month low of $69.63 and a twelve month high of $146.60. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $118.55 and a 200-day simple moving average of $104.61. The stock has a market capitalization of $4.11 billion, a PE ratio of 22.53 and a beta of 0.83.

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