Cubist Systematic Strategies LLC purchased a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,687 shares of the auto parts company’s stock, valued at approximately $2,807,000. Cubist Systematic Strategies LLC owned 0.10% of Dorman Products as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Dorman Products during the 4th quarter valued at $23,298,000. Jennison Associates LLC boosted its stake in Dorman Products by 73.1% during the first quarter. Jennison Associates LLC now owns 283,387 shares of the auto parts company’s stock valued at $27,316,000 after buying an additional 119,707 shares in the last quarter. Nordea Investment Management AB acquired a new position in Dorman Products during the first quarter worth about $10,907,000. Vanguard Group Inc. raised its position in Dorman Products by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock worth $292,282,000 after acquiring an additional 41,849 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Dorman Products by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,044 shares of the auto parts company’s stock valued at $94,136,000 after acquiring an additional 24,811 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on DORM. CJS Securities initiated coverage on shares of Dorman Products in a research note on Friday, September 13th. They issued an “outperform” rating and a $134.00 price objective on the stock. Roth Mkm restated a “buy” rating and issued a $116.00 price target on shares of Dorman Products in a research report on Friday, June 14th. Four research 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 an average target price of $113.33.
Insider Activity
In related news, SVP Jeffery Darby sold 1,400 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $98.98, for a total value of $138,572.00. Following the completion of the sale, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $2,481,527.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Dorman Products news, Director Steven L. Berman sold 27,632 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $115.72, for a total value of $3,197,575.04. Following the completion of the sale, the director now owns 936,024 shares in the company, valued at approximately $108,316,697.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $98.98, for a total transaction of $138,572.00. Following the sale, the senior vice president now directly owns 25,071 shares of the company’s stock, valued at approximately $2,481,527.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,849 shares of company stock worth $5,980,938. 10.00% of the stock is owned by corporate insiders.
Dorman Products Trading Down 0.1 %
Shares of DORM opened at $113.58 on Monday. The business’s 50-day moving average price is $108.34 and its 200 day moving average price is $97.82. The company has a current ratio of 2.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $3.52 billion, a P/E ratio of 22.85 and a beta of 0.83. Dorman Products, Inc. has a 1-year low of $60.01 and a 1-year high of $119.28.
Dorman Products (NASDAQ:DORM – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.48. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The business had revenue of $502.95 million for the quarter, compared to analyst estimates of $497.46 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts expect that Dorman Products, Inc. will post 6.15 earnings per share for the current year.
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.
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