Picton Mahoney Asset Management Has $1.07 Million Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

Picton Mahoney Asset Management lifted its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 88,600.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,870 shares of the auto parts company’s stock after acquiring an additional 8,860 shares during the period. Picton Mahoney Asset Management’s holdings in Dorman Products were worth $1,070,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Dorman Products by 2.3% during the first quarter. Principal Financial Group Inc. now owns 141,288 shares of the auto parts company’s stock worth $17,031,000 after acquiring an additional 3,206 shares in the last quarter. Norges Bank bought a new stake in shares of Dorman Products during the fourth quarter worth about $41,047,000. LPL Financial LLC increased its position in shares of Dorman Products by 216.6% during the fourth quarter. LPL Financial LLC now owns 19,715 shares of the auto parts company’s stock worth $2,555,000 after acquiring an additional 13,487 shares in the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Dorman Products by 12.5% during the first quarter. Flagship Harbor Advisors LLC now owns 2,493 shares of the auto parts company’s stock worth $301,000 after acquiring an additional 277 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Dorman Products by 88.2% during the fourth quarter. Sei Investments Co. now owns 20,887 shares of the auto parts company’s stock worth $2,708,000 after acquiring an additional 9,788 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Transactions at Dorman Products

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

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 research report on Friday, May 16th.

Dorman Products Trading Down 1.0%

Shares of DORM stock opened at $120.63 on Thursday. Dorman Products, Inc. has a 52-week low of $94.87 and a 52-week high of $146.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.22 and a current ratio of 2.62. The company has a 50-day simple moving average of $124.67 and a two-hundred day simple moving average of $124.12. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.31 and a beta of 0.85.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Monday, May 5th. The auto parts company reported $2.02 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted $1.31 EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

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.