Flagship Harbor Advisors LLC Invests $287,000 in Dorman Products, Inc. (NASDAQ:DORM)

Flagship Harbor Advisors LLC bought a new position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,216 shares of the auto parts company's stock, valued at approximately $287,000.

Several other institutional investors also recently bought and sold shares of DORM. Fiera Capital Corp purchased a new position in Dorman Products in the 3rd quarter valued at about $25,571,000. State Street Corp increased its position in shares of 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 worth $125,374,000 after purchasing an additional 87,780 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Dorman Products by 173.6% during the third quarter. JPMorgan Chase & Co. now owns 133,341 shares of the auto parts company's stock worth $15,084,000 after buying an additional 84,613 shares in the last quarter. Royce & Associates LP raised its holdings in Dorman Products by 17.6% in the 3rd quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company's stock valued at $59,262,000 after acquiring an additional 78,496 shares during the last quarter. Finally, Jennison Associates LLC boosted 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 buying an additional 55,615 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Up 1.8 %

NASDAQ DORM traded up $2.35 during trading hours on Thursday, reaching $134.68. The company had a trading volume of 57,337 shares, compared to its average volume of 186,412. The stock has a 50-day moving average of $133.18 and a 200 day moving average of $120.32. The stock has a market capitalization of $4.11 billion, a P/E ratio of 22.49 and a beta of 0.89. Dorman Products, Inc. has a 1-year low of $79.43 and a 1-year high of $146.60. 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 - 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, topping the consensus estimate of $1.53 by $0.43. The firm had revenue of $503.77 million for 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 for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. As a group, research analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm reaffirmed a "buy" rating and set a $153.00 target price (up from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products currently has an average rating of "Buy" and a consensus target price of $125.67.

Insider Activity

In other Dorman Products news, SVP Eric Luftig sold 3,278 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the sale, the senior vice president now directly owns 5,934 shares of the company's stock, valued at $837,821.46. This trade represents a 35.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven L. Berman sold 8,485 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $136.83, for a total transaction of $1,161,002.55. Following the completion of the sale, the director now directly owns 867,671 shares in the company, valued at $118,723,422.93. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,500 shares of company stock valued at $7,435,190. Company insiders own 10.00% of the company's stock.

Dorman Products Company 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.