Citigroup Inc. Buys 14,807 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Citigroup Inc. lifted its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 70.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,697 shares of the auto parts company's stock after acquiring an additional 14,807 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Dorman Products worth $4,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Dorman Products by 5.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company's stock worth $20,526,000 after acquiring an additional 10,915 shares in the last quarter. Intech Investment Management LLC acquired a new position in Dorman Products during the 3rd quarter worth $2,014,000. Oppenheimer Asset Management Inc. lifted its holdings in Dorman Products by 41.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,688 shares of the auto parts company's stock worth $1,548,000 after buying an additional 3,993 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Dorman Products by 1,595.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,035 shares of the auto parts company's stock worth $1,924,000 after buying an additional 19,794 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Dorman Products by 26.7% during the 3rd quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company's stock worth $3,944,000 after buying an additional 7,349 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dorman Products

In related news, Director Steven L. Berman sold 27,632 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $115.72, for a total value of $3,197,575.04. Following the completion of the sale, the director now owns 936,024 shares in the company, valued at $108,316,697.28. This represents a 2.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Luftig sold 3,278 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the completion of the sale, the senior vice president now owns 5,934 shares of the company's stock, valued at approximately $837,821.46. This represents a 35.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,988 shares of company stock worth $7,795,833 in the last quarter. Corporate insiders own 10.00% of the company's stock.

Dorman Products Trading Up 1.1 %

Shares of Dorman Products stock traded up $1.50 on Wednesday, hitting $139.96. 146,863 shares of the company's stock traded hands, compared to its average volume of 137,158. The firm's 50-day moving average price is $124.51 and its two-hundred day moving average price is $108.80. The stock has a market capitalization of $4.27 billion, a PE ratio of 23.15 and a beta of 0.87. Dorman Products, Inc. has a one year low of $74.24 and a one year high of $146.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16.

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

Analyst Ratings Changes

Several research firms have issued reports on DORM. CJS Securities began coverage on Dorman Products in a report on Friday, September 13th. They set an "outperform" rating and a $134.00 price objective on the stock. Roth Mkm reaffirmed a "buy" rating and set a $153.00 price objective (up previously 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 data from MarketBeat, the company 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.