The Manufacturers Life Insurance Company Reduces Stake in Dorman Products, Inc. (NASDAQ:DORM)

The Manufacturers Life Insurance Company lowered its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,580 shares of the auto parts company’s stock after selling 256 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Dorman Products were worth $1,649,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Dorman Products by 5,460.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 273 shares during the period. Advisors Asset Management Inc. purchased a new position in Dorman Products during the third quarter worth $31,000. Quest Partners LLC purchased a new stake in shares of Dorman Products in the second quarter valued at $37,000. Covestor Ltd grew its position in shares of Dorman Products by 781.4% in the third quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 336 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Dorman Products by 63.2% in the third quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 187 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dorman Products

In other news, insider John Mcknight sold 8,185 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $139.34, for a total transaction of $1,140,497.90. Following the sale, the insider now directly owns 8,902 shares of the company’s stock, valued at $1,240,404.68. This represents a 47.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $3,197,575.04. Following the sale, the director now directly owns 936,024 shares in the company, valued at $108,316,697.28. This trade represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,173 shares of company stock worth $8,936,331 over the last ninety days. Company insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dorman Products Trading Down 0.8 %

NASDAQ DORM opened at $137.42 on Tuesday. Dorman Products, Inc. has a 1-year low of $74.24 and a 1-year 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 company has a market capitalization of $4.19 billion, a PE ratio of 22.98 and a beta of 0.87. The firm’s fifty day simple moving average is $126.52 and its 200-day simple moving average is $110.13.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data 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 firm had revenue of $503.77 million during the quarter, compared to analysts’ expectations of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. Dorman Products’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal 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.