JPMorgan Chase & Co. Acquires 84,613 Shares of Dorman Products, Inc. (NASDAQ:DORM)

JPMorgan Chase & Co. raised its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 173.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,341 shares of the auto parts company’s stock after purchasing an additional 84,613 shares during the period. JPMorgan Chase & Co. owned 0.44% of Dorman Products worth $15,084,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Fiera Capital Corp bought a new position in Dorman Products during the 3rd quarter valued at approximately $25,571,000. State Street Corp increased its holdings in shares of Dorman Products by 8.6% during the third quarter. State Street Corp now owns 1,108,327 shares of the auto parts company’s stock valued at $125,374,000 after acquiring an additional 87,780 shares in the last quarter. Royce & Associates LP raised its position in shares of Dorman Products by 17.6% in the 3rd quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company’s stock worth $59,262,000 after purchasing an additional 78,496 shares during the last quarter. Jennison Associates LLC boosted its stake in Dorman Products by 13.9% in the 3rd quarter. Jennison Associates LLC now owns 454,852 shares of the auto parts company’s stock worth $51,453,000 after purchasing an additional 55,615 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its position in Dorman Products by 33.1% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 153,688 shares of the auto parts company’s stock valued at $17,385,000 after purchasing an additional 38,188 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Down 3.2 %

NASDAQ:DORM opened at $121.75 on Friday. The company has a market cap of $3.72 billion, a PE ratio of 20.36 and a beta of 0.89. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of $134.87 and a two-hundred day simple moving average of $116.36. Dorman Products, Inc. has a 12 month low of $79.31 and a 12 month high of $146.60.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.53 by $0.43. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The company had revenue of $503.77 million during the quarter, compared to analyst estimates of $509.54 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. Dorman Products’s revenue was up 3.2% compared to the same quarter last year. Research analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insider Activity

In other Dorman Products news, Director Steven L. Berman sold 8,485 shares of the firm’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 sale, the director now directly owns 867,671 shares of the company’s stock, valued at $118,723,422.93. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffery Darby sold 2,400 shares of Dorman Products stock in a transaction on Friday, November 1st. The shares were sold at an average price of $124.98, for a total transaction of $299,952.00. Following the completion of the sale, the senior vice president now owns 17,471 shares in the company, valued at approximately $2,183,525.58. This represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,924 shares of company stock valued at $4,606,861 in the last quarter. 10.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DORM. CJS Securities began coverage on shares of Dorman Products in a report on Friday, September 13th. They issued an “outperform” rating and a $134.00 target price for the company. Roth Mkm restated a “buy” rating and issued a $153.00 price objective (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $125.67.

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.