Thrivent Financial for Lutherans Trims Stake in Dorman Products, Inc. $DORM

Thrivent Financial for Lutherans lessened its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 15.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,420 shares of the auto parts company’s stock after selling 4,796 shares during the period. Thrivent Financial for Lutherans’ holdings in Dorman Products were worth $3,962,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DORM. Hillsdale Investment Management Inc. lifted its stake in Dorman Products by 34.8% during the second quarter. Hillsdale Investment Management Inc. now owns 44,960 shares of the auto parts company’s stock worth $5,515,000 after purchasing an additional 11,600 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Dorman Products in the 2nd quarter worth approximately $1,423,000. Tributary Capital Management LLC boosted its stake in Dorman Products by 90.5% in the third quarter. Tributary Capital Management LLC now owns 234,388 shares of the auto parts company’s stock worth $36,536,000 after buying an additional 111,380 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Dorman Products by 130.1% during the third quarter. Assenagon Asset Management S.A. now owns 23,036 shares of the auto parts company’s stock valued at $3,591,000 after acquiring an additional 13,025 shares during the last quarter. Finally, Equitable Trust Co. grew its position in Dorman Products by 60.1% during the second quarter. Equitable Trust Co. now owns 7,390 shares of the auto parts company’s stock valued at $907,000 after acquiring an additional 2,773 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DORM. Weiss Ratings lowered shares of Dorman Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, January 30th. Zacks Research downgraded shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Wall Street Zen lowered shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.50.

Dorman Products Stock Performance

Shares of NASDAQ:DORM opened at $130.10 on Friday. The company has a current ratio of 2.94, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $126.17 and a 200-day moving average price of $138.36. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 16.20 and a beta of 0.92. Dorman Products, Inc. has a 12 month low of $106.95 and a 12 month high of $166.89.

Insider Buying and Selling

In other Dorman Products news, SVP Donna M. Long sold 812 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $123.75, for a total value of $100,485.00. Following the completion of the sale, the senior vice president owned 17,856 shares in the company, valued at approximately $2,209,680. This trade represents a 4.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Mcknight sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $128.80, for a total value of $257,600.00. Following the transaction, the insider directly owned 9,112 shares in the company, valued at $1,173,625.60. This trade represents a 18.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.90% of the company’s stock.

Dorman Products Profile

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.