Victory Capital Management Inc. Sells 1,178 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Victory Capital Management Inc. decreased its position in Dorman Products, Inc. (NASDAQ:DORM) by 9.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,815 shares of the auto parts company’s stock after selling 1,178 shares during the period. Victory Capital Management Inc.’s holdings in Dorman Products were worth $1,081,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DORM. Norges Bank bought a new stake in shares of Dorman Products in the 4th quarter worth approximately $23,298,000. Jennison Associates LLC increased its position in Dorman Products by 73.1% during the 1st quarter. Jennison Associates LLC now owns 283,387 shares of the auto parts company’s stock valued at $27,316,000 after purchasing an additional 119,707 shares during the period. Nordea Investment Management AB bought a new position in Dorman Products in the 1st quarter worth $10,907,000. Vanguard Group Inc. lifted its position in shares of Dorman Products by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock worth $292,282,000 after purchasing an additional 41,849 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Dorman Products by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 987,403 shares of the auto parts company’s stock valued at $82,361,000 after purchasing an additional 26,724 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Price Performance

Shares of DORM opened at $115.11 on Friday. Dorman Products, Inc. has a fifty-two week low of $60.01 and a fifty-two week high of $119.28. The firm’s 50-day simple moving average is $106.99 and its two-hundred day simple moving average is $96.92. The stock has a market cap of $3.57 billion, a PE ratio of 23.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.19 and a current ratio of 2.40.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.48. The company had revenue of $502.95 million for the quarter, compared to the consensus estimate of $497.46 million. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. Analysts anticipate that Dorman Products, Inc. will post 6.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DORM has been the subject of several research analyst reports. CJS Securities assumed coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 price objective for the company. Roth Mkm restated a “buy” rating and set a $116.00 price target on shares of Dorman Products in a research report on Friday, June 14th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products presently has an average rating of “Buy” and an average price target of $113.33.

Insider Transactions at Dorman Products

In related news, Director Steven L. Berman sold 16,071 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.55, for a total transaction of $1,873,075.05. Following the sale, the director now directly owns 888,656 shares of the company’s stock, valued at approximately $103,572,856.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $104.98, for a total value of $146,972.00. Following the completion of the transaction, the senior vice president now owns 23,671 shares in the company, valued at $2,484,981.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven L. Berman sold 16,071 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $116.55, for a total value of $1,873,075.05. Following the sale, the director now directly owns 888,656 shares in the company, valued at $103,572,856.80. The disclosure for this sale can be found here. Insiders sold a total of 50,303 shares of company stock valued at $5,801,318 in the last quarter. 10.00% of the stock is owned by 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.