Envestnet Asset Management Inc. Has $29.70 Million Holdings in Dorman Products, Inc. $DORM

Envestnet Asset Management Inc. raised its position in Dorman Products, Inc. (NASDAQ:DORM) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,530 shares of the auto parts company’s stock after purchasing an additional 25,710 shares during the quarter. Envestnet Asset Management Inc. owned 0.62% of Dorman Products worth $29,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Dorman Products in the 3rd quarter valued at approximately $249,000. Jones Financial Companies Lllp grew its stake in shares of Dorman Products by 26.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 417 shares of the auto parts company’s stock worth $65,000 after acquiring an additional 88 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Dorman Products by 1.4% in the third quarter. Arizona State Retirement System now owns 7,661 shares of the auto parts company’s stock worth $1,194,000 after purchasing an additional 106 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Dorman Products by 0.7% during the third quarter. New York State Common Retirement Fund now owns 103,225 shares of the auto parts company’s stock worth $16,091,000 after purchasing an additional 711 shares during the last quarter. Finally, Stonegate Investment Group LLC bought a new position in Dorman Products in the third quarter valued at $241,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dorman Products

In other Dorman Products news, SVP Donna M. Long sold 812 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $123.75, for a total value of $100,485.00. Following the transaction, the senior vice president directly owned 17,856 shares of the company’s stock, valued at $2,209,680. This represents a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Mcknight sold 2,000 shares of Dorman Products stock in a transaction on Friday, December 12th. The stock was sold at an average price of $128.80, for a total value of $257,600.00. Following the sale, the insider directly owned 9,112 shares of the company’s stock, valued at $1,173,625.60. This represents a 18.00% decrease in their position. The SEC filing for this sale provides additional information. 8.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Dorman Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 30th. Zacks Research cut Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Wall Street Zen downgraded Dorman Products from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Dorman Products currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.50.

Dorman Products Trading Down 1.2%

Shares of Dorman Products stock opened at $131.68 on Friday. Dorman Products, Inc. has a 1 year low of $106.95 and a 1 year high of $166.89. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 16.40 and a beta of 0.92. The business has a fifty day simple moving average of $126.39 and a two-hundred day simple moving average of $138.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.94 and a quick ratio of 1.19.

About Dorman Products

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.