Dorman Products (NASDAQ:DORM) Sets New 52-Week High - Time to Buy?

Key Points

• Dorman Products shares reached a new 52-week high at $147.57, supported by a trading volume of 52,183 shares, after closing at $142.86.
• The company reported impressive quarterly earnings of $2.06 per share, surpassing estimates by $0.30, and recorded revenues of $540.96 million, exceeding expectations of $517.13 million.
• Institutional investors hold 84.70% of Dorman Products’ stock, with notable increases in positions from firms like Rhumbline Advisers and Hillsdale Investment Management during the second quarter.

Dorman Products, Inc. (NASDAQ:DORM - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $146.63 and last traded at $147.57, with a volume of 52183 shares traded. The stock had previously closed at $142.86.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th.

Dorman Products Trading Down 2.1%

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.74 and a quick ratio of 1.21. The company's 50 day moving average price is $127.49 and its two-hundred day moving average price is $124.89. The stock has a market capitalization of $4.66 billion, a PE ratio of 20.75 and a beta of 0.79.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its earnings results on Monday, August 4th. The auto parts company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.30. Dorman Products had a net margin of 10.83% and a return on equity of 19.23%. The company had revenue of $540.96 million for the quarter, compared to the consensus estimate of $517.13 million. During the same period in the previous year, the firm earned $1.67 earnings per share. Dorman Products's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insider Transactions at Dorman Products

In other Dorman Products news, SVP Donna M. Long sold 820 shares of Dorman Products stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $122.21, for a total transaction of $100,212.20. Following the completion of the sale, the senior vice president directly owned 19,074 shares in the company, valued at $2,331,033.54. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Gavin sold 2,900 shares of Dorman Products stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $131.19, for a total transaction of $380,451.00. Following the completion of the transaction, the director owned 8,132 shares of the company's stock, valued at $1,066,837.08. This represents a 26.29% decrease in their position. The disclosure for this sale can be found here. 8.90% of the stock is owned by company insiders.

Institutional Trading of Dorman Products

Several institutional investors have recently modified their holdings of DORM. Wellington Management Group LLP lifted its position in shares of Dorman Products by 192.9% during the 1st quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company's stock worth $61,691,000 after buying an additional 337,074 shares during the last quarter. Norges Bank purchased a new stake in shares of Dorman Products during the 2nd quarter worth approximately $40,449,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Dorman Products during the 4th quarter worth approximately $42,495,000. Nuveen LLC purchased a new stake in shares of Dorman Products during the 1st quarter worth approximately $25,976,000. Finally, Oberweis Asset Management Inc. purchased a new stake in Dorman Products in the 4th quarter valued at $23,283,000. Hedge funds and other 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.