Geode Capital Management LLC Reduces Position in Dorman Products, Inc. (NASDAQ:DORM)

Geode Capital Management LLC trimmed its position in Dorman Products, Inc. (NASDAQ:DORM) by 0.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 635,588 shares of the auto parts company’s stock after selling 3,671 shares during the period. Geode Capital Management LLC’s holdings in Dorman Products were worth $71,912,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Dorman Products in the 3rd quarter worth $2,014,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Dorman Products by 41.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company’s stock worth $1,548,000 after purchasing an additional 3,993 shares during the period. Raymond James & Associates grew its stake in shares of Dorman Products by 26.7% in the third quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company’s stock worth $3,944,000 after purchasing an additional 7,349 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Dorman Products during the 2nd quarter valued at about $2,807,000. Finally, HighTower Advisors LLC raised its position in Dorman Products by 431.9% during the 3rd quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company’s stock valued at $1,563,000 after purchasing an additional 11,246 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Dorman Products

In other Dorman Products news, insider John Mcknight sold 8,185 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $139.34, for a total value of $1,140,497.90. Following the sale, the insider now directly owns 8,902 shares of the company’s stock, valued at approximately $1,240,404.68. The trade was a 47.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven L. Berman sold 1,331 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $116.05, for a total value of $154,462.55. Following the completion of the sale, the director now directly owns 879,967 shares in the company, valued at approximately $102,120,170.35. This represents a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,470 shares of company stock valued at $4,733,524 in the last three months. Company insiders own 10.00% of the company’s stock.

Dorman Products Price Performance

DORM stock opened at $131.36 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. Dorman Products, Inc. has a 1 year low of $79.20 and a 1 year high of $146.60. The firm has a 50-day moving average of $130.67 and a 200 day moving average of $112.35. The company has a market cap of $4.01 billion, a P/E ratio of 21.97 and a beta of 0.87.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.43. The firm had revenue of $503.77 million during 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 business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 EPS. On average, sell-side analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current 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.