Dorman Products, Inc. (NASDAQ:DORM) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,535 shares of the auto parts company’s stock after selling 962 shares during the period. Lord Abbett & CO. LLC owned 0.16% of Dorman Products worth $5,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DORM. Tidal Investments LLC lifted its holdings in shares of Dorman Products by 5.0% during the 3rd quarter. Tidal Investments LLC now owns 4,918 shares of the auto parts company’s stock worth $556,000 after acquiring an additional 234 shares during the period. Westside Investment Management Inc. acquired a new position in Dorman Products during the third quarter worth approximately $29,000. Coldstream Capital Management Inc. purchased a new position in Dorman Products during the third quarter worth approximately $263,000. M&T Bank Corp boosted its holdings in shares of Dorman Products by 22.1% in the 3rd quarter. M&T Bank Corp now owns 31,300 shares of the auto parts company’s stock valued at $3,541,000 after purchasing an additional 5,662 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Dorman Products by 380.7% during the 3rd quarter. Barclays PLC now owns 46,842 shares of the auto parts company’s stock valued at $5,298,000 after buying an additional 37,098 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Activity at Dorman Products

In other news, SVP Jeffery Darby sold 2,400 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 17,471 shares in the company, valued at $2,183,525.58. This trade represents a 12.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven L. Berman sold 16,071 shares of Dorman Products stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.55, for a total value of $1,873,075.05. Following the sale, the director now directly owns 888,656 shares in the company, valued at approximately $103,572,856.80. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,141 shares of company stock worth $5,453,204. 10.00% of the stock is currently owned by company insiders.

Dorman Products Stock Performance

Shares of DORM stock opened at $136.92 on Tuesday. 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 cap of $4.18 billion, a PE ratio of 22.90 and a beta of 0.87. The company’s fifty day simple moving average is $129.38 and its 200-day simple moving average is $111.80. Dorman Products, Inc. has a 52 week low of $79.20 and a 52 week high of $146.60.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.53 by $0.43. The company had revenue of $503.77 million for the quarter, compared to analyst estimates of $509.54 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.40 earnings per share. As a group, equities research analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

Analyst Ratings Changes

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

Dorman Products 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.