Assenagon Asset Management S.A. Decreases Position in Dorman Products, Inc. (NASDAQ:DORM)

Assenagon Asset Management S.A. cut its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 22.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 174,615 shares of the auto parts company's stock after selling 49,759 shares during the quarter. Assenagon Asset Management S.A. owned about 0.57% of Dorman Products worth $19,752,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in shares of Dorman Products in the 2nd quarter valued at approximately $37,000. GAMMA Investing LLC raised its holdings in shares of Dorman Products by 63.2% in the third quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company's stock worth $55,000 after buying an additional 187 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Dorman Products in the third quarter worth $58,000. Rothschild Investment LLC acquired a new stake in shares of Dorman Products during the second quarter worth $66,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Dorman Products during the first quarter valued at $120,000. Institutional investors and hedge funds own 84.70% of the company's stock.

Analysts Set New Price Targets

Separately, CJS Securities started coverage on Dorman Products in a research note on Friday, September 13th. They issued an "outperform" rating and a $134.00 target price for the company. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $113.33.

Dorman Products Stock Performance

Shares of DORM stock traded up $0.76 during trading hours on Friday, hitting $114.91. The company's stock had a trading volume of 95,197 shares, compared to its average volume of 128,385. The stock has a market cap of $3.56 billion, a PE ratio of 23.12 and a beta of 0.82. Dorman Products, Inc. has a 12-month low of $60.01 and a 12-month high of $119.28. The company has a 50 day moving average of $112.68 and a 200 day moving average of $100.52. The company has a current ratio of 2.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.38.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.19 by $0.48. The company had revenue of $502.95 million for the quarter, compared to analyst estimates of $497.46 million. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The firm's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, sell-side analysts forecast that Dorman Products, Inc. will post 6.15 EPS for the current fiscal year.

Insider Activity at Dorman Products

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total value of $146,972.00. Following the sale, the senior vice president now owns 23,671 shares in the company, valued at approximately $2,484,981.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of Dorman Products stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total value of $146,972.00. Following the completion of the transaction, the senior vice president now owns 23,671 shares of the company's stock, valued at approximately $2,484,981.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven L. Berman sold 16,071 shares of the company's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $116.55, for a total transaction of $1,873,075.05. Following the completion of the transaction, the director now owns 888,656 shares of the company's stock, valued at approximately $103,572,856.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,297 shares of company stock worth $6,163,491. 10.00% of the stock is owned by corporate insiders.

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.