Dorman Products (NASDAQ:DORM) Hits New 52-Week Low - Here's What Happened

Shares of Dorman Products, Inc. (NASDAQ:DORM - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $108.82 and last traded at $113.30, with a volume of 292523 shares trading hands. The stock had previously closed at $112.09.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Dorman Products from a "buy" rating to a "strong-buy" rating in a report on Monday.

Dorman Products Stock Performance

The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 20.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The stock has a fifty day simple moving average of $119.94 and a two-hundred day simple moving average of $126.80.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its earnings results on Monday, May 5th. The auto parts company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.54. The business had revenue of $507.69 million during the quarter, compared to the consensus estimate of $483.09 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 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. Analysts forecast 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 Donna M. Long sold 742 shares of Dorman Products stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total value of $96,741.96. Following the completion of the sale, the senior vice president now owns 19,894 shares of the company's stock, valued at approximately $2,593,779.72. This trade represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.90% of the company's stock.

Hedge Funds Weigh In On Dorman Products

Several large investors have recently added to or reduced their stakes in DORM. Captrust Financial Advisors increased its holdings in Dorman Products by 4.3% during the fourth quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company's stock worth $247,000 after buying an additional 79 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Dorman Products by 3.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,438 shares of the auto parts company's stock worth $308,000 after acquiring an additional 83 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Dorman Products by 1.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,763 shares of the auto parts company's stock valued at $617,000 after purchasing an additional 84 shares in the last quarter. Pitcairn Co. grew its holdings in Dorman Products by 2.0% during the 4th quarter. Pitcairn Co. now owns 4,490 shares of the auto parts company's stock valued at $582,000 after buying an additional 86 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Dorman Products by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company's stock valued at $350,000 after purchasing an additional 87 shares during the period. Institutional investors own 84.70% of the company's stock.

Dorman Products Company 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.