Apollon Wealth Management LLC Buys New Stake in Dorman Products, Inc. (NASDAQ:DORM)

Apollon Wealth Management LLC bought a new position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,771 shares of the auto parts company's stock, valued at approximately $427,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Dorman Products in the first quarter worth about $120,000. Sei Investments Co. grew its stake in shares of Dorman Products by 2.6% during the first quarter. Sei Investments Co. now owns 8,688 shares of the auto parts company's stock valued at $837,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE lifted its stake in shares of Dorman Products by 5.9% in the first quarter. US Bancorp DE now owns 8,212 shares of the auto parts company's stock worth $792,000 after acquiring an additional 460 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Dorman Products by 7.3% in the first quarter. ProShare Advisors LLC now owns 5,356 shares of the auto parts company's stock valued at $516,000 after purchasing an additional 366 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Dorman Products by 25.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,446 shares of the auto parts company's stock valued at $910,000 after purchasing an additional 1,926 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Jeffery Darby sold 2,400 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $118.98, for a total transaction of $285,552.00. Following the completion of the transaction, the senior vice president now owns 19,871 shares in the company, valued at approximately $2,364,251.58. This represents a 10.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven L. Berman sold 27,632 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the completion of the sale, the director now directly owns 936,024 shares in the company, valued at approximately $108,316,697.28. This trade represents a 2.87 % 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 worth $7,050,877 over the last quarter. 10.00% of the stock is owned by company insiders.

Dorman Products Stock Performance

Shares of DORM traded down $0.72 during mid-day trading on Monday, hitting $134.01. The stock had a trading volume of 162,270 shares, compared to its average volume of 136,740. Dorman Products, Inc. has a fifty-two week low of $69.77 and a fifty-two week high of $146.60. 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 company has a market cap of $4.09 billion, a PE ratio of 22.41 and a beta of 0.83. The company's fifty day simple moving average is $119.05 and its two-hundred day simple moving average is $105.15.

Dorman Products (NASDAQ:DORM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.43. The firm had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The firm's revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share. On average, equities analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Analyst Ratings Changes

DORM has been the topic of a number of recent analyst reports. CJS Securities assumed coverage on Dorman Products in a research report on Friday, September 13th. They issued an "outperform" rating and a $134.00 target price on the stock. Roth Mkm restated 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $125.67.

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.