Assetmark Inc. Takes $822,000 Position in Dorman Products, Inc. (NASDAQ:DORM)

Assetmark Inc. bought a new position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,269 shares of the auto parts company's stock, valued at approximately $822,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in Dorman Products by 5,460.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company's stock valued at $31,000 after purchasing an additional 273 shares during the period. Quest Partners LLC acquired a new position in Dorman Products during the 2nd quarter valued at about $37,000. GAMMA Investing LLC grew its position in Dorman Products by 63.2% in the 3rd quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company's stock worth $55,000 after purchasing an additional 187 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Dorman Products during the third quarter valued at approximately $58,000. Finally, Rothschild Investment LLC bought a new position in Dorman Products in the 2nd quarter worth approximately $66,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dorman Products

In other Dorman Products news, Director Steven L. Berman sold 2,669 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $112.57, for a total transaction of $300,449.33. Following the completion of the sale, the director now directly owns 876,156 shares of the company's stock, valued at approximately $98,628,880.92. This represents a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $734,405.76. Following the completion of the transaction, the senior vice president now owns 13,336 shares of the company's stock, valued at approximately $1,769,153.76. The trade was a 29.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,833 shares of company stock valued at $7,050,877 over the last ninety days. Insiders own 10.00% of the company's stock.

Dorman Products Price Performance

Shares of DORM stock traded down $1.23 during mid-day trading on Friday, hitting $134.73. 173,369 shares of the stock traded hands, compared to its average volume of 136,626. Dorman Products, Inc. has a twelve month low of $69.63 and a twelve month high of $146.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The company's 50-day simple moving average is $118.55 and its 200-day simple moving average is $104.73. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 22.53 and a beta of 0.83.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. CJS Securities began coverage on Dorman Products in a research note on Friday, September 13th. They issued an "outperform" rating and a $134.00 price target for the company. Roth Mkm reissued a "buy" rating and set a $153.00 target price (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 currently has an average rating of "Buy" and a consensus price target 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.