Sheets Smith Wealth Management Invests $1.34 Million in Dorman Products, Inc. (NASDAQ:DORM)

Sheets Smith Wealth Management bought a new position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,803 shares of the auto parts company's stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Equitable Trust Co. lifted its position in shares of Dorman Products by 2.2% in the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company's stock valued at $508,000 after acquiring an additional 97 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Dorman Products by 1.3% during the second quarter. Inspire Advisors LLC now owns 8,679 shares of the auto parts company's stock worth $794,000 after buying an additional 112 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Dorman Products by 0.8% in the first quarter. Orion Portfolio Solutions LLC now owns 13,659 shares of the auto parts company's stock valued at $1,317,000 after buying an additional 114 shares during the last quarter. Creative Planning lifted its stake in shares of Dorman Products by 3.3% in the second quarter. Creative Planning now owns 4,499 shares of the auto parts company's stock worth $412,000 after buying an additional 144 shares in the last quarter. Finally, Procyon Advisors LLC boosted its position 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 acquiring an additional 180 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Up 3.3 %

DORM traded up $4.41 on Friday, hitting $137.76. The company had a trading volume of 421,489 shares, compared to its average volume of 181,714. The company's fifty day moving average price is $115.94 and its 200 day moving average price is $103.06. Dorman Products, Inc. has a 1 year low of $66.07 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. The firm has a market cap of $4.20 billion, a P/E ratio of 23.04 and a beta of 0.83.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.53 by $0.43. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The firm had revenue of $503.77 million for the quarter, compared to analyst estimates of $509.54 million. During the same period in the prior year, the business posted $1.40 EPS. The business's revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Jeffery Darby sold 2,400 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 of the company's stock, valued at approximately $2,364,251.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Scott Leff sold 5,536 shares of Dorman Products stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $132.66, for a total value of $734,405.76. Following the completion of the transaction, the senior vice president now owns 13,336 shares in the company, valued at approximately $1,769,153.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffery Darby sold 2,400 shares of the business's 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 transaction, the senior vice president now directly owns 19,871 shares of the company's stock, valued at approximately $2,364,251.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,833 shares of company stock worth $7,050,877 over the last three months. Company insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DORM shares. Roth Mkm reaffirmed 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. CJS Securities initiated coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an "outperform" rating and a $134.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products has an average rating of "Buy" and a consensus target price of $125.67.

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.