HighTower Advisors LLC Purchases 11,246 Shares of Dorman Products, Inc. (NASDAQ:DORM)

HighTower Advisors LLC increased its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 431.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,850 shares of the auto parts company's stock after buying an additional 11,246 shares during the quarter. HighTower Advisors LLC's holdings in Dorman Products were worth $1,563,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its position in shares of Dorman Products by 2.2% during the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company's stock valued at $508,000 after buying an additional 97 shares during the last quarter. Inspire Advisors LLC boosted its holdings in Dorman Products by 1.3% during the 2nd quarter. Inspire Advisors LLC now owns 8,679 shares of the auto parts company's stock worth $794,000 after acquiring an additional 112 shares during the last quarter. Creative Planning boosted its holdings in Dorman Products by 3.3% during the 2nd quarter. Creative Planning now owns 4,499 shares of the auto parts company's stock worth $412,000 after acquiring an additional 144 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Dorman Products by 28.3% during the third quarter. First Horizon Advisors Inc. now owns 662 shares of the auto parts company's stock valued at $75,000 after purchasing an additional 146 shares in the last quarter. Finally, Procyon Advisors LLC boosted its holdings 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 purchasing an additional 180 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DORM. CJS Securities began coverage on Dorman Products in a research report on Friday, September 13th. They set an "outperform" rating and a $134.00 price target for the company. Roth Mkm reiterated a "buy" rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products has a consensus rating of "Buy" and an average target price of $125.67.

Insider Activity at Dorman Products

In other Dorman Products news, SVP Scott Leff sold 5,536 shares of the company's stock in a transaction dated 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 in the company, valued at $1,769,153.76. This represents a 29.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jeffery Darby sold 2,400 shares of Dorman Products 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 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 position. The disclosure for this sale can be found here. Insiders have sold 45,541 shares of company stock valued at $5,738,756 over the last three months. 10.00% of the stock is owned by corporate insiders.

Dorman Products Price Performance

DORM traded down $0.31 during trading on Monday, reaching $136.92. 216,380 shares of the company were exchanged, compared to its average volume of 137,614. The company's 50-day moving average is $128.82 and its two-hundred day moving average is $111.48. Dorman Products, Inc. has a 12-month low of $79.20 and a 12-month high of $146.60. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 22.95 and a beta of 0.87. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37.

Dorman Products (NASDAQ:DORM - Get Free Report) 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 company had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. Research analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal 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.