Magnetar Financial LLC Invests $287,000 in Dorman Products, Inc. (NASDAQ:DORM)

Magnetar Financial LLC acquired a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,219 shares of the auto parts company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Flagship Harbor Advisors LLC bought a new position in Dorman Products in the fourth quarter valued at approximately $287,000. Intech Investment Management LLC bought a new stake in Dorman Products in the 3rd quarter valued at $2,014,000. Empowered Funds LLC bought a new stake in Dorman Products in the 4th quarter valued at $387,000. HighTower Advisors LLC boosted its stake in Dorman Products by 431.9% in the 3rd quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company’s stock worth $1,563,000 after purchasing an additional 11,246 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Dorman Products by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,717 shares of the auto parts company’s stock worth $45,954,000 after purchasing an additional 4,102 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Dorman Products Stock Performance

Shares of DORM stock opened at $125.45 on Monday. Dorman Products, Inc. has a 12 month low of $86.61 and a 12 month high of $146.60. The company’s fifty day simple moving average is $128.14 and its 200-day simple moving average is $126.26. The firm has a market cap of $3.84 billion, a PE ratio of 20.98 and a beta of 0.84. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Wednesday, February 26th. The auto parts company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.99 by $0.21. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The firm had revenue of $533.77 million for the quarter, compared to analysts’ expectations of $523.95 million. Equities research analysts expect that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Dorman Products news, SVP Donna M. Long sold 742 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total value of $96,741.96. Following the completion of the sale, the senior vice president now owns 19,894 shares in the company, valued at $2,593,779.72. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven L. Berman sold 2,633 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $132.52, for a total transaction of $348,925.16. Following the transaction, the director now owns 833,812 shares in the company, valued at $110,496,766.24. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,475 shares of company stock worth $4,397,374. Corporate insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 14th.

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.