Cinctive Capital Management LP Invests $1.91 Million in Dorman Products, Inc. (NASDAQ:DORM)

Cinctive Capital Management LP purchased a new position in Dorman Products, Inc. (NASDAQ:DORM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,856 shares of the auto parts company’s stock, valued at approximately $1,907,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in shares of Dorman Products by 5,460.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in Dorman Products in the third quarter valued at about $31,000. Quest Partners LLC bought a new stake in Dorman Products during the second quarter worth about $37,000. Covestor Ltd increased its holdings in shares of Dorman Products by 781.4% during the third quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock worth $43,000 after buying an additional 336 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake 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 valued at $55,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Dorman Products Stock Performance

Shares of Dorman Products stock opened at $138.46 on Wednesday. The firm has a 50 day simple moving average of $124.51 and a 200 day simple moving average of $108.80. Dorman Products, Inc. has a fifty-two week low of $74.09 and a fifty-two week high of $146.60. 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 firm has a market cap of $4.23 billion, a P/E ratio of 23.15 and a beta of 0.87.

Dorman Products (NASDAQ:DORM) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.43. The company had revenue of $503.77 million during 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 quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.40 earnings per share. Sell-side analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Dorman Products

In related news, SVP Eric Luftig sold 3,278 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the completion of the sale, the senior vice president now directly owns 5,934 shares of the company’s stock, valued at $837,821.46. The trade was a 35.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Donna M. Long sold 3,277 shares of the 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 completion of the transaction, the senior vice president now owns 20,126 shares in the company, valued at $2,712,783.54. This represents a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,988 shares of company stock worth $7,795,833. Company insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

DORM has been the topic of a number of research analyst reports. Roth Mkm restated a “buy” rating and set a $153.00 price target (up from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. CJS Securities began 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.