Jennison Associates LLC increased its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 454,852 shares of the auto parts company's stock after purchasing an additional 55,615 shares during the quarter. Jennison Associates LLC owned 1.49% of Dorman Products worth $51,453,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in shares of Dorman Products by 5,460.0% in the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company's stock valued at $31,000 after acquiring an additional 273 shares during the period. Quest Partners LLC bought a new stake in shares of Dorman Products in the second quarter worth about $37,000. Covestor Ltd increased its holdings in Dorman Products by 781.4% during the 3rd 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. GAMMA Investing LLC lifted its holdings in Dorman Products by 63.2% in the 3rd quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company's stock worth $55,000 after buying an additional 187 shares during the period. Finally, USA Financial Formulas purchased a new stake in Dorman Products in the 3rd quarter worth approximately $58,000. 84.70% of the stock is owned by institutional investors.
Shares of DORM stock opened at $137.02 on Friday. The stock has a market cap of $4.18 billion, a PE ratio of 22.91 and a beta of 0.83. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. Dorman Products, Inc. has a 12 month low of $69.77 and a 12 month high of $146.60. The company's fifty day moving average price is $120.09 and its 200-day moving average price is $105.67.
Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.43. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The firm had revenue of $503.77 million for the quarter, compared to analysts' expectations of $509.54 million. During the same quarter in the prior year, the company posted $1.40 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts expect that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.
In related news, Director Steven L. Berman sold 215 shares of Dorman Products stock in a transaction on Friday, September 20th. The shares were sold at an average price of $117.01, for a total transaction of $25,157.15. Following the transaction, the director now owns 881,298 shares in the company, valued at approximately $103,120,678.98. The trade was a 0.02 % 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 Scott Leff sold 5,536 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $132.66, for a total value of $734,405.76. Following the completion of the transaction, the senior vice president now owns 13,336 shares in the company, valued at $1,769,153.76. The trade was a 29.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 63,110 shares of company stock valued at $7,492,584 in the last 90 days. Company insiders own 10.00% of the company's stock.
DORM has been the subject of several research reports. Roth Mkm restated a "buy" rating and issued a $153.00 price objective (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. CJS Securities initiated coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an "outperform" rating and a $134.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $125.67.
Read Our Latest Stock Analysis on DORM
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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