Corient Private Wealth LP bought a new stake in Dorman Products, Inc. (NASDAQ:DORM – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor bought 34,087 shares of the auto parts company’s stock, valued at approximately $4,651,000.
A number of other large investors also recently added to or reduced their stakes in DORM. Allworth Financial LP acquired a new position in Dorman Products during the 2nd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Dorman Products during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Dorman Products by 594.1% during the second quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 202 shares in the last quarter. Miller Capital Partners Inc. acquired a new position in shares of Dorman Products during the 4th quarter worth about $37,000. Finally, Sankala Group LLC purchased a new stake in Dorman Products during the fourth quarter worth approximately $47,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.
Dorman Products Price Performance
Shares of DORM opened at $128.85 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.73 and a current ratio of 3.60. Dorman Products, Inc. has a fifty-two week low of $98.44 and a fifty-two week high of $166.89. The firm has a 50-day simple moving average of $135.41 and a 200-day simple moving average of $122.70. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 17.85 and a beta of 0.98.
Insiders Place Their Bets
In related news, CAO Gregory C. Bowen sold 3,531 shares of Dorman Products stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total value of $512,030.31. Following the transaction, the chief accounting officer directly owned 5,340 shares in the company, valued at $774,353.40. This trade represents a 39.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities analysts have commented on DORM shares. Roth Capital reiterated a “buy” rating on shares of Dorman Products in a research note on Wednesday, August 5th. Freedom Capital cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wells Fargo & Company increased their target price on shares of Dorman Products from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Dorman Products from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Barrington Research reissued an “outperform” rating and issued a $150.00 price target on shares of Dorman Products in a research report on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.
View Our Latest Stock Analysis on DORM
Dorman Products Company Profile
Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.
The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.
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