Sheets Smith Wealth Management Acquires Shares of 11,803 Dorman Products, Inc. (NASDAQ:DORM)

Sheets Smith Wealth Management bought a new position in Dorman Products, Inc. (NASDAQ:DORM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 11,803 shares of the auto parts company’s stock, valued at approximately $1,335,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Equitable Trust Co. lifted its position in Dorman Products by 2.2% in the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company’s stock valued at $508,000 after purchasing an additional 97 shares during the period. Inspire Advisors LLC increased its holdings in shares of Dorman Products by 1.3% in the 2nd quarter. Inspire Advisors LLC now owns 8,679 shares of the auto parts company’s stock valued at $794,000 after purchasing an additional 112 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Dorman Products by 0.8% during the 1st quarter. Orion Portfolio Solutions LLC now owns 13,659 shares of the auto parts company’s stock valued at $1,317,000 after acquiring an additional 114 shares during the period. Creative Planning raised its holdings in Dorman Products by 3.3% during the second quarter. Creative Planning now owns 4,499 shares of the auto parts company’s stock worth $412,000 after purchasing an additional 144 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in Dorman Products by 7.1% during the third quarter. Procyon Advisors LLC now owns 2,730 shares of the auto parts company’s stock worth $309,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Scott Leff sold 5,536 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $132.66, for a total transaction of $734,405.76. Following the completion of the sale, the senior vice president now directly owns 13,336 shares of the company’s stock, valued at $1,769,153.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Scott Leff sold 5,536 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $132.66, for a total value of $734,405.76. Following the transaction, the senior vice president now directly owns 13,336 shares in the company, valued at $1,769,153.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jeffery Darby sold 2,400 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $118.98, for a total value of $285,552.00. Following the sale, the senior vice president now owns 19,871 shares of the company’s stock, valued at $2,364,251.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,833 shares of company stock valued at $7,050,877 over the last quarter. Company insiders own 10.00% of the company’s stock.

Dorman Products Trading Up 3.3 %

Shares of Dorman Products stock opened at $137.76 on Friday. Dorman Products, Inc. has a fifty-two week low of $66.07 and a fifty-two week high of $146.60. The business’s fifty day moving average is $115.94 and its two-hundred day moving average is $103.06. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.20 billion, a PE ratio of 23.04 and a beta of 0.83.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data 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 company had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. During the same quarter in the prior year, the company posted $1.40 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. CJS Securities assumed 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 restated a “buy” rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products has an average rating of “Buy” and a consensus target price of $125.67.

Dorman Products Company 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.