Pembroke Management LTD Cuts Holdings in Dorman Products, Inc. (NASDAQ:DORM)

Pembroke Management LTD reduced its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 2.0% during the second quarter, Holdings Channel.com reports. The firm owned 264,329 shares of the auto parts company’s stock after selling 5,377 shares during the period. Dorman Products accounts for about 3.3% of Pembroke Management LTD’s portfolio, making the stock its 8th biggest position. Pembroke Management LTD’s holdings in Dorman Products were worth $24,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC raised its position in Dorman Products by 0.8% in the first quarter. Orion Portfolio Solutions LLC now owns 13,659 shares of the auto parts company’s stock worth $1,317,000 after acquiring an additional 114 shares in the last quarter. Park Avenue Securities LLC raised its position in Dorman Products by 4.6% in the first quarter. Park Avenue Securities LLC now owns 3,508 shares of the auto parts company’s stock worth $338,000 after acquiring an additional 155 shares in the last quarter. Corient Private Wealth LLC raised its position in Dorman Products by 3.2% in the fourth quarter. Corient Private Wealth LLC now owns 5,823 shares of the auto parts company’s stock worth $486,000 after acquiring an additional 181 shares in the last quarter. Sei Investments Co. raised its position in Dorman Products by 2.6% in the first quarter. Sei Investments Co. now owns 8,688 shares of the auto parts company’s stock worth $837,000 after acquiring an additional 221 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Dorman Products by 277.4% in the 4th quarter. Parallel Advisors LLC now owns 317 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 233 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “buy” rating and issued a $116.00 price target on shares of Dorman Products in a research note on Friday, June 14th.

Insider Activity at Dorman Products

In related news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 23,671 shares of the company’s stock, valued at approximately $2,484,981.58. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 4,200 shares of company stock valued at $445,116. 10.00% of the stock is owned by corporate insiders.

Dorman Products Trading Up 1.6 %

DORM traded up $1.79 during trading on Monday, reaching $113.42. The company had a trading volume of 113,300 shares, compared to its average volume of 123,317. 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, Inc. has a 12-month low of $60.01 and a 12-month high of $114.51. The firm’s 50-day simple moving average is $100.43 and its 200 day simple moving average is $94.33. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 22.82 and a beta of 0.82.

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

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.