Jennison Associates LLC Buys 145,391 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Jennison Associates LLC raised its position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 32.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 598,642 shares of the auto parts company's stock after purchasing an additional 145,391 shares during the period. Jennison Associates LLC owned about 1.96% of Dorman Products worth $72,160,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DORM. Captrust Financial Advisors boosted its stake in shares of Dorman Products by 4.3% during 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 during the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of Dorman Products by 3.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,438 shares of the auto parts company's stock valued at $308,000 after acquiring an additional 83 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake 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 acquiring an additional 84 shares during the last quarter. Pitcairn Co. boosted its stake in shares of Dorman Products by 2.0% during the fourth quarter. Pitcairn Co. now owns 4,490 shares of the auto parts company's stock valued at $582,000 after acquiring an additional 86 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Dorman Products by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company's stock valued at $350,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, Director John J. Gavin sold 2,900 shares of the business's stock in a transaction 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 sale, the director directly owned 8,132 shares of the company's stock, valued at $1,066,837.08. The trade was a 26.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is owned by company insiders.

Dorman Products Stock Performance

Shares of DORM traded down $1.07 during mid-day trading on Friday, hitting $121.33. The stock had a trading volume of 143,984 shares, compared to its average volume of 190,863. The company has a market cap of $3.70 billion, a PE ratio of 17.41 and a beta of 0.85. The company's fifty day simple moving average is $125.83 and its two-hundred day simple moving average is $124.33. The company has a quick ratio of 1.22, a current ratio of 2.62 and a debt-to-equity ratio of 0.33. Dorman Products, Inc. has a fifty-two week low of $94.87 and a fifty-two week high of $146.60.

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

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.