Summit Creek Advisors LLC Trims Stock Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Key Points

• Summit Creek Advisors LLC reduced its stake in Dorman Products by 24.1%, selling 27,538 shares, and now owns 86,921 shares worth approximately $10.5 million.
• Dorman Products reported earnings of $2.02 per share for the most recent quarter, significantly exceeding the consensus estimate of $1.48, alongside a revenue of $507.69 million.
• The company received an upgrade from a "buy" rating to a "strong-buy" rating from Wall Street Zen in a research report released on May 16th.

Summit Creek Advisors LLC reduced its stake in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,921 shares of the auto parts company's stock after selling 27,538 shares during the period. Summit Creek Advisors LLC owned 0.28% of Dorman Products worth $10,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Dorman Products by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,028,728 shares of the auto parts company's stock valued at $392,372,000 after purchasing an additional 91,361 shares during the period. GW&K Investment Management LLC grew its holdings in Dorman Products by 0.7% during the 1st quarter. GW&K Investment Management LLC now owns 601,363 shares of the auto parts company's stock valued at $72,489,000 after buying an additional 4,363 shares in the last quarter. Jennison Associates LLC increased its position in shares of Dorman Products by 32.1% during the first 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 during the period. Northern Trust Corp boosted its position in shares of Dorman Products by 10.2% in the fourth quarter. Northern Trust Corp now owns 472,721 shares of the auto parts company's stock valued at $61,241,000 after acquiring an additional 43,811 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Dorman Products during the fourth quarter valued at approximately $42,495,000. Institutional investors own 84.70% of the company's stock.

Dorman Products Price Performance

Shares of NASDAQ DORM traded down $0.33 during midday trading on Thursday, hitting $120.30. 62,141 shares of the company's stock were exchanged, compared to its average volume of 211,797. The business's fifty day moving average price is $124.67 and its two-hundred day moving average price is $124.12. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 17.27 and a beta of 0.85. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. Dorman Products, Inc. has a 12-month low of $94.87 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 (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.54. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. The company had revenue of $507.69 million during the quarter, compared to analyst estimates of $483.09 million. During the same period in the previous year, the business earned $1.31 earnings per share. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

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.