Informed Momentum Co LLC Decreases Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Key Points

• Informed Momentum Co LLC has decreased its holdings in Dorman Products by 39.5% to around 18,955 shares, now valued at approximately $2.29 million.
• Despite the reduction by some investors, other institutional players like USA Financial Formulas and Blue Trust Inc. have significantly increased their stakes in the company during the first quarter.
• Dorman Products reported a strong earnings quarter with an EPS of $2.06, surpassing expectations, and a revenue increase of 7.6% compared to the previous year.

Informed Momentum Co LLC reduced its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,955 shares of the auto parts company's stock after selling 12,401 shares during the quarter. Informed Momentum Co LLC owned 0.06% of Dorman Products worth $2,285,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DORM. Fuller & Thaler Asset Management Inc. purchased a new position in Dorman Products in the 4th quarter valued at about $42,495,000. Nuveen LLC purchased a new position in Dorman Products in the 1st quarter valued at about $25,976,000. Oberweis Asset Management Inc. purchased a new position in Dorman Products in the 4th quarter valued at about $23,283,000. Wellington Management Group LLP lifted its stake in Dorman Products by 1,136.2% in the 4th quarter. Wellington Management Group LLP now owns 174,717 shares of the auto parts company's stock valued at $22,635,000 after buying an additional 160,584 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Dorman Products by 32.1% in the 1st quarter. Jennison Associates LLC now owns 598,642 shares of the auto parts company's stock valued at $72,160,000 after buying an additional 145,391 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Dorman Products Price Performance

DORM traded down $3.34 during trading on Friday, reaching $152.48. The company's stock had a trading volume of 387,241 shares, compared to its average volume of 249,607. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $127.49 and a two-hundred day simple moving average of $124.84. Dorman Products, Inc. has a 1 year low of $105.06 and a 1 year high of $157.59. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 20.75 and a beta of 0.79.

Dorman Products (NASDAQ:DORM - Get Free Report) last released its earnings results on Monday, August 4th. The auto parts company reported $2.06 earnings per share 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 business had revenue of $540.96 million for the quarter, compared to analyst estimates of $517.13 million. During the same period last year, the company posted $1.67 EPS. The business's revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

Analysts Set New Price Targets

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

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.