Summit Creek Advisors LLC Reduces Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

Summit Creek Advisors LLC cut its stake in Dorman Products, Inc. (NASDAQ:DORM) by 15.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,988 shares of the auto parts company’s stock after selling 35,315 shares during the period. Dorman Products makes up about 2.4% of Summit Creek Advisors LLC’s holdings, making the stock its 15th largest holding. Summit Creek Advisors LLC owned approximately 0.62% of Dorman Products worth $17,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Dorman Products by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock valued at $292,282,000 after purchasing an additional 41,849 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Dorman Products by 2.8% in the fourth 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. Charles Schwab Investment Management Inc. grew its position in shares of Dorman Products by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 326,932 shares of the auto parts company’s stock valued at $27,269,000 after purchasing an additional 14,114 shares in the last quarter. Jennison Associates LLC grew its position in shares of Dorman Products by 73.1% in the first 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 in the last quarter. Finally, Norges Bank purchased a new stake in shares of Dorman Products in the fourth quarter valued at approximately $23,298,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Up 0.7 %

DORM opened at $110.43 on Friday. Dorman Products, Inc. has a one year low of $60.01 and a one year high of $114.51. The stock has a market capitalization of $3.38 billion, a PE ratio of 22.22 and a beta of 0.83. The business’s 50 day moving average price is $101.92 and its 200 day moving average price is $94.95. 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 released its quarterly earnings data on Thursday, August 1st. The auto parts company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.48. Dorman Products had a return on equity of 15.97% and a net margin of 8.75%. The firm had revenue of $502.95 million for the quarter, compared to analysts’ expectations of $497.46 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Dorman Products, Inc. will post 6.15 EPS for the current year.

Insiders Place Their Bets

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $113.98, for a total transaction of $159,572.00. Following the transaction, the senior vice president now directly owns 22,271 shares in the company, valued at $2,538,448.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,200 shares of company stock worth $445,116 over the last ninety days. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm reiterated a “buy” rating and issued a $116.00 price objective on shares of Dorman Products in a report on Friday, June 14th.

Dorman Products Company 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.