Dorman Products, Inc. (NASDAQ:DORM) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,535 shares of the auto parts company’s stock after selling 962 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Dorman Products were worth $5,603,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Equitable Trust Co. lifted its position in shares of Dorman Products by 2.2% during the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company’s stock worth $508,000 after purchasing an additional 97 shares during the last quarter. Inspire Advisors LLC raised its stake in Dorman Products by 1.3% during the second quarter. Inspire Advisors LLC now owns 8,679 shares of the auto parts company’s stock valued at $794,000 after buying an additional 112 shares in the last quarter. Creative Planning lifted its holdings in Dorman Products by 3.3% during the 2nd quarter. Creative Planning now owns 4,499 shares of the auto parts company’s stock worth $412,000 after buying an additional 144 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Dorman Products by 28.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 662 shares of the auto parts company’s stock worth $75,000 after acquiring an additional 146 shares in the last quarter. Finally, Procyon Advisors LLC increased its holdings in shares of Dorman Products by 7.1% in the 3rd quarter. Procyon Advisors LLC now owns 2,730 shares of the auto parts company’s stock valued at $309,000 after acquiring an additional 180 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Roth Mkm restated 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 initiated coverage on shares of Dorman Products in a report on Friday, September 13th. They set an “outperform” rating and a $134.00 target price on the stock. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Dorman Products currently has a consensus rating of “Buy” and an average price target of $125.67.

Insider Buying and Selling

In other Dorman Products news, insider John Mcknight sold 8,185 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $139.34, for a total transaction of $1,140,497.90. Following the completion of the transaction, the insider now owns 8,902 shares in the company, valued at approximately $1,240,404.68. The trade was a 47.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven L. Berman sold 16,071 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.55, for a total value of $1,873,075.05. Following the completion of the transaction, the director now directly owns 888,656 shares of the company’s stock, valued at approximately $103,572,856.80. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,141 shares of company stock valued at $5,453,204 in the last quarter. Company insiders own 10.00% of the company’s stock.

Dorman Products Stock Down 0.2 %

Shares of Dorman Products stock opened at $136.92 on Tuesday. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 22.90 and a beta of 0.87. Dorman Products, Inc. has a twelve month low of $79.20 and a twelve month 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 business’s 50 day simple moving average is $129.38 and its 200-day simple moving average is $111.80.

Dorman Products (NASDAQ:DORM) last issued its 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 firm had revenue of $503.77 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. Equities research analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

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.