Azzad Asset Management Inc. ADV Buys New Position in Dorman Products, Inc. (NASDAQ:DORM)

Azzad Asset Management Inc. ADV bought a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,979 shares of the auto parts company's stock, valued at approximately $841,000.

Several other hedge funds have also recently made changes to their positions in the business. Captrust Financial Advisors boosted its holdings in Dorman Products by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company's stock valued at $247,000 after acquiring an additional 79 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of Dorman Products by 3.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,438 shares of the auto parts company's stock valued at $308,000 after purchasing an additional 83 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Dorman Products by 1.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,763 shares of the auto parts company's stock valued at $617,000 after buying an additional 84 shares during the period. Pitcairn Co. raised its stake in Dorman Products by 2.0% in the fourth quarter. Pitcairn Co. now owns 4,490 shares of the auto parts company's stock worth $582,000 after buying an additional 86 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Dorman Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company's stock worth $350,000 after buying an additional 87 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Stock Up 0.5%

Shares of NASDAQ:DORM traded up $0.55 during midday trading on Wednesday, reaching $121.79. The company's stock had a trading volume of 175,218 shares, compared to its average volume of 187,625. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $121.74 and a 200-day moving average of $126.10. The firm has a market capitalization of $3.72 billion, a P/E ratio of 17.47 and a beta of 0.87. Dorman Products, Inc. has a 12-month low of $87.05 and a 12-month high of $146.60.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its earnings results on Monday, May 5th. The auto parts company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.54. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. The business had revenue of $507.69 million during the quarter, compared to the consensus estimate of $483.09 million. During the same quarter last year, the firm earned $1.31 earnings per share. The business's revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insider Activity at Dorman Products

In other news, Director John J. Gavin sold 2,900 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $131.19, for a total transaction of $380,451.00. Following the sale, the director now owns 8,132 shares of the company's stock, valued at $1,066,837.08. This trade represents a 26.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Dorman Products from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th.

About Dorman Products

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.