Minerva Advisors LLC lessened its position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 31.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,590 shares of the auto parts company's stock after selling 3,900 shares during the quarter. Dorman Products makes up about 0.6% of Minerva Advisors LLC's investment portfolio, making the stock its 29th largest holding. Minerva Advisors LLC's holdings in Dorman Products were worth $971,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC lifted its position in Dorman Products by 838.5% during the third quarter. Quest Partners LLC now owns 3,754 shares of the auto parts company's stock valued at $425,000 after purchasing an additional 3,354 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Dorman Products by 8.7% during the third quarter. Thrivent Financial for Lutherans now owns 25,801 shares of the auto parts company's stock worth $2,918,000 after acquiring an additional 2,058 shares during the last quarter. Seizert Capital Partners LLC increased its stake in Dorman Products by 37.0% during the third quarter. Seizert Capital Partners LLC now owns 45,836 shares of the auto parts company's stock worth $5,185,000 after acquiring an additional 12,367 shares during the last quarter. Natixis Advisors LLC increased its stake in Dorman Products by 12.5% during the third quarter. Natixis Advisors LLC now owns 27,482 shares of the auto parts company's stock worth $3,109,000 after acquiring an additional 3,049 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Dorman Products by 17.6% during the third quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company's stock worth $59,262,000 after acquiring an additional 78,496 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on DORM. Roth Mkm reissued a "buy" rating and set a $153.00 price objective (up from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. CJS Securities started coverage on Dorman Products in a research note on Friday, September 13th. They set an "outperform" rating and a $134.00 target price on the stock. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $125.67.
Check Out Our Latest Stock Analysis on DORM
Insiders Place Their Bets
In related news, SVP Donna M. Long sold 3,277 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $134.79, for a total value of $441,706.83. Following the transaction, the senior vice president now directly owns 20,126 shares of the company's stock, valued at approximately $2,712,783.54. This trade represents a 14.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven L. Berman sold 27,632 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the sale, the director now owns 936,024 shares of the company's stock, valued at $108,316,697.28. This represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,110 shares of company stock valued at $7,492,584. Company insiders own 10.00% of the company's stock.
Dorman Products Stock Performance
Shares of NASDAQ DORM traded up $1.63 during mid-day trading on Tuesday, hitting $135.64. The stock had a trading volume of 137,781 shares, compared to its average volume of 136,745. 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 has a 50 day moving average of $119.05 and a two-hundred day moving average of $105.15. Dorman Products, Inc. has a twelve month low of $69.77 and a twelve month high of $146.60. The firm has a market cap of $4.14 billion, a PE ratio of 22.43 and a beta of 0.83.
Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly 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 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 for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. Research analysts predict that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.
Dorman Products Company Profile
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Free Report)
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.
Further Reading
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