Janney Montgomery Scott LLC Buys New Position in Dorman Products, Inc. (NASDAQ:DORM)

Janney Montgomery Scott LLC purchased a new position in shares of Dorman Products, Inc. (NASDAQ:DORM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,285 shares of the auto parts company’s stock, valued at approximately $944,000.

Other hedge funds have also recently modified their holdings of the company. Equitable Trust Co. increased its stake in shares of Dorman Products by 2.2% in the third quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company’s stock worth $508,000 after acquiring an additional 97 shares during the period. Heritage Family Offices LLP increased its stake in shares of Dorman Products by 4.9% in the 4th quarter. Heritage Family Offices LLP now owns 2,128 shares of the auto parts company’s stock valued at $276,000 after purchasing an additional 100 shares in the last quarter. Creative Planning boosted its position in Dorman Products by 3.3% during the second quarter. Creative Planning now owns 4,499 shares of the auto parts company’s stock worth $412,000 after purchasing an additional 144 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Dorman Products by 28.3% in the third quarter. First Horizon Advisors Inc. now owns 662 shares of the auto parts company’s stock valued at $75,000 after purchasing an additional 146 shares during the period. Finally, Procyon Advisors LLC lifted its position in shares of Dorman Products by 7.1% during the 3rd quarter. Procyon Advisors LLC now owns 2,730 shares of the auto parts company’s stock valued at $309,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

DORM has been the topic of several research analyst reports. Roth Mkm reiterated 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. StockNews.com raised shares of Dorman Products from a “buy” rating to a “strong-buy” rating in a research report on Monday. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $125.67.

Dorman Products Price Performance

Shares of DORM opened at $130.65 on Thursday. The firm has a 50-day simple moving average of $132.33 and a two-hundred day simple moving average of $121.39. The stock has a market cap of $3.99 billion, a PE ratio of 21.85 and a beta of 0.88. Dorman Products, Inc. has a 1-year low of $79.81 and a 1-year high of $146.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16.

Insiders Place Their Bets

In other news, SVP Donna M. Long sold 3,277 shares of Dorman Products stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $134.79, for a total value of $441,706.83. Following the completion of the transaction, the senior vice president now owns 20,126 shares in the company, valued at approximately $2,712,783.54. This trade represents a 14.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven L. Berman sold 8,524 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $131.79, for a total transaction of $1,123,377.96. Following the sale, the director now owns 773,094 shares in the company, valued at $101,886,058.26. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,088 shares of company stock worth $7,524,211 over the last three months. Company insiders own 10.00% of the company’s stock.

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.