Innova Wealth Partners Makes New Investment in Dorman Products, Inc. (NASDAQ:DORM)

Innova Wealth Partners purchased a new stake in Dorman Products, Inc. (NASDAQ:DORM) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,840 shares of the auto parts company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in Dorman Products by 8.6% during the third quarter. State Street Corp now owns 1,108,327 shares of the auto parts company’s stock valued at $125,374,000 after purchasing an additional 87,780 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dorman Products by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,044 shares of the auto parts company’s stock valued at $94,136,000 after buying an additional 24,811 shares during the period. Royce & Associates LP grew its position in shares of Dorman Products by 17.6% during the 3rd quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company’s stock valued at $59,262,000 after buying an additional 78,496 shares during the last quarter. Jennison Associates LLC raised its stake in Dorman Products by 13.9% during the third quarter. Jennison Associates LLC now owns 454,852 shares of the auto parts company’s stock worth $51,453,000 after acquiring an additional 55,615 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Dorman Products by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 350,615 shares of the auto parts company’s stock worth $39,662,000 after acquiring an additional 3,365 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Steven L. Berman sold 2,669 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $112.57, for a total value of $300,449.33. Following the completion of the transaction, the director now directly owns 876,156 shares in the company, valued at $98,628,880.92. This trade represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Mcknight sold 8,185 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,240,404.68. The trade was a 47.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,593 shares of company stock valued at $4,907,310. Company insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DORM. Roth Mkm reaffirmed a “buy” rating and set a $153.00 target price (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. CJS Securities initiated coverage on Dorman Products in a research note on Friday, September 13th. They set an “outperform” rating and a $134.00 price objective for the company. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $125.67.

Dorman Products Price Performance

NASDAQ DORM opened at $124.06 on Wednesday. The company has a 50-day moving average price of $134.44 and a two-hundred day moving average price of $116.22. Dorman Products, Inc. has a 52 week low of $79.20 and a 52 week high of $146.60. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 20.75 and a beta of 0.89. 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 (NASDAQ:DORM) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.43. The business 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 for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 EPS. Analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current year.

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.