JPMorgan Chase & Co. Boosts Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

JPMorgan Chase & Co. raised its stake in Dorman Products, Inc. (NASDAQ:DORM) by 173.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 133,341 shares of the auto parts company’s stock after buying an additional 84,613 shares during the period. JPMorgan Chase & Co.’s holdings in Dorman Products were worth $15,084,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp bought a new position in Dorman Products during the 3rd quarter worth about $25,571,000. State Street Corp boosted its position in shares of Dorman Products by 8.6% in the 3rd quarter. State Street Corp now owns 1,108,327 shares of the auto parts company’s stock worth $125,374,000 after purchasing an additional 87,780 shares in the last quarter. Royce & Associates LP boosted its stake in Dorman Products by 17.6% in the 3rd quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company’s stock worth $59,262,000 after purchasing an additional 78,496 shares in the last quarter. Jennison Associates LLC raised its stake in Dorman Products by 13.9% in the 3rd quarter. Jennison Associates LLC now owns 454,852 shares of the auto parts company’s stock worth $51,453,000 after acquiring an additional 55,615 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in Dorman Products by 33.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 153,688 shares of the auto parts company’s stock worth $17,385,000 after buying an additional 38,188 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven L. Berman sold 2,633 shares of Dorman Products stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $132.52, for a total transaction of $348,925.16. Following the sale, the director now owns 833,812 shares of the company’s stock, valued at approximately $110,496,766.24. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffery Darby sold 2,400 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $124.98, for a total transaction of $299,952.00. Following the transaction, the senior vice president now directly owns 17,471 shares of the company’s stock, valued at approximately $2,183,525.58. This trade represents a 12.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,924 shares of company stock worth $4,606,861. 10.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DORM shares. Roth Mkm reiterated a “buy” rating and set a $153.00 price objective (up previously from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. CJS Securities started coverage on Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 price target for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $125.67.

Dorman Products Stock Down 3.2 %

DORM stock opened at $121.75 on Friday. Dorman Products, Inc. has a one year low of $79.31 and a one year high of $146.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The firm’s fifty day moving average is $134.87 and its 200 day moving average is $116.36. The firm has a market cap of $3.72 billion, a PE ratio of 20.36 and a beta of 0.89.

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