State of Alaska Department of Revenue Lowers Stake in Dorman Products, Inc. (NASDAQ:DORM)

State of Alaska Department of Revenue reduced its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,435 shares of the auto parts company’s stock after selling 92 shares during the period. State of Alaska Department of Revenue’s holdings in Dorman Products were worth $1,999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DORM. Westside Investment Management Inc. purchased a new position in shares of Dorman Products during the third quarter worth approximately $29,000. Farther Finance Advisors LLC raised its position in Dorman Products by 5,460.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 273 shares during the period. Advisors Asset Management Inc. bought a new stake in Dorman Products in the third quarter worth $31,000. Covestor Ltd boosted its holdings in Dorman Products by 781.4% during the 3rd quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock valued at $43,000 after acquiring an additional 336 shares during the period. Finally, GAMMA Investing LLC lifted its position in Dorman Products by 63.2% in the third quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 187 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Price Performance

Shares of Dorman Products stock opened at $126.14 on Wednesday. The business has a 50 day moving average of $131.33 and a 200 day moving average of $122.31. Dorman Products, Inc. has a 52 week low of $80.28 and a 52 week high of $146.60. The company has a market cap of $3.85 billion, a PE ratio of 21.09 and a beta of 0.88. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37.

Insiders Place Their Bets

In related news, SVP Donna M. Long sold 3,277 shares of Dorman Products stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $134.79, for a total transaction of $441,706.83. Following the completion of the transaction, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at $2,712,783.54. This trade represents a 14.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven L. Berman sold 8,485 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $136.83, for a total transaction of $1,161,002.55. Following the completion of the sale, the director now owns 867,671 shares in the company, valued at approximately $118,723,422.93. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,088 shares of company stock worth $7,524,211. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DORM has been the topic of several analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a research note on Monday, November 4th. StockNews.com downgraded shares of Dorman Products from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $125.67.

Dorman Products 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.