Jennison Associates LLC Grows Position in Dorman Products, Inc. (NASDAQ:DORM)

Jennison Associates LLC grew its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 13.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 454,852 shares of the auto parts company's stock after buying an additional 55,615 shares during the period. Jennison Associates LLC owned 1.49% of Dorman Products worth $51,453,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DORM. Equitable Trust Co. lifted its holdings in Dorman Products by 2.2% in the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company's stock worth $508,000 after buying an additional 97 shares during the period. Inspire Advisors LLC lifted its position 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 valued at $794,000 after acquiring an additional 112 shares during the period. Creative Planning boosted its stake in Dorman Products by 3.3% during the second quarter. Creative Planning now owns 4,499 shares of the auto parts company's stock worth $412,000 after acquiring an additional 144 shares in the last quarter. Procyon Advisors LLC increased its stake in shares of Dorman Products by 7.1% during the third quarter. Procyon Advisors LLC now owns 2,730 shares of the auto parts company's stock valued at $309,000 after purchasing an additional 180 shares in the last quarter. Finally, Trust Point Inc. raised its stake in Dorman Products by 2.4% during the third quarter. Trust Point Inc. now owns 7,918 shares of the auto parts company's stock valued at $896,000 after buying an additional 183 shares during the last quarter. Institutional investors own 84.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. CJS Securities started coverage on Dorman Products in a research report on Friday, September 13th. They issued an "outperform" rating and a $134.00 price target for the company. Roth Mkm reaffirmed a "buy" rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $125.67.

Insiders Place Their Bets

In other Dorman Products news, SVP Scott Leff sold 5,536 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $132.66, for a total value of $734,405.76. Following the completion of the sale, the senior vice president now directly owns 13,336 shares of the company's stock, valued at $1,769,153.76. The trade was a 29.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donna M. Long sold 3,277 shares of Dorman Products stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $134.79, for a total transaction of $441,706.83. Following the sale, the senior vice president now directly owns 20,126 shares of the company's stock, valued at $2,712,783.54. This represents a 14.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,110 shares of company stock worth $7,492,584. Company insiders own 10.00% of the company's stock.

Dorman Products Stock Performance

Shares of Dorman Products stock traded up $3.25 during trading on Friday, hitting $140.27. 104,226 shares of the company's stock traded hands, compared to its average volume of 136,626. Dorman Products, Inc. has a 1 year low of $69.77 and a 1 year high of $146.60. The business has a 50-day simple moving average of $120.09 and a 200-day simple moving average of $105.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. The stock has a market capitalization of $4.28 billion, a P/E ratio of 22.91 and a beta of 0.83.

Dorman Products (NASDAQ:DORM - Get Free Report) last released its quarterly earnings results 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 firm 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 company's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. As a group, analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current year.

About Dorman Products

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.