Jennison Associates LLC Acquires 55,615 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Jennison Associates LLC raised its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 13.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 454,852 shares of the auto parts company’s stock after purchasing an additional 55,615 shares during the quarter. Jennison Associates LLC’s holdings in Dorman Products were worth $51,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Fiera Capital Corp bought a new position in Dorman Products in the third quarter worth approximately $25,571,000. Royce & Associates LP lifted its holdings 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 buying an additional 78,496 shares during the period. Vanguard Group Inc. grew its position in shares of Dorman Products by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock worth $292,282,000 after buying an additional 41,849 shares in the last quarter. Algert Global LLC increased its stake in shares of Dorman Products by 404.4% during the second quarter. Algert Global LLC now owns 39,149 shares of the auto parts company’s stock valued at $3,581,000 after buying an additional 31,387 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Dorman Products in the second quarter valued at about $2,807,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DORM shares. CJS Securities assumed coverage on shares of Dorman Products in a report on Friday, September 13th. They set an “outperform” rating and a $134.00 target price on the stock. Roth Mkm reissued a “buy” rating and set a $153.00 price objective (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four investment 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 price target of $125.67.

Dorman Products Price Performance

Shares of DORM stock opened at $137.02 on Friday. The company has a market cap of $4.18 billion, a P/E ratio of 22.91 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. The stock’s 50-day moving average is $120.09 and its 200 day moving average is $105.67. Dorman Products, Inc. has a 1-year low of $69.77 and a 1-year 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.43. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The firm had revenue of $503.77 million for the quarter, compared to the consensus estimate of $509.54 million. During the same quarter in the previous year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Activity

In other Dorman Products news, Director Steven L. Berman sold 215 shares of Dorman Products stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.01, for a total transaction of $25,157.15. Following the completion of the sale, the director now owns 881,298 shares of the company’s stock, valued at approximately $103,120,678.98. The trade was a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jeffery Darby sold 1,400 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $113.98, for a total value of $159,572.00. Following the completion of the transaction, the senior vice president now owns 22,271 shares of the company’s stock, valued at approximately $2,538,448.58. The trade was a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,110 shares of company stock worth $7,492,584. 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.