WCM Investment Management LLC Sells 67,285 Shares of Dorman Products, Inc. $DORM

WCM Investment Management LLC reduced its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 33.7% in the third quarter, Holdings Channel.com reports. The fund owned 132,615 shares of the auto parts company’s stock after selling 67,285 shares during the quarter. WCM Investment Management LLC’s holdings in Dorman Products were worth $20,095,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Private Trust Co. NA increased its stake in Dorman Products by 101.2% in the third quarter. Private Trust Co. NA now owns 165 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 83 shares during the period. Salem Investment Counselors Inc. purchased a new stake in Dorman Products in the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in Dorman Products by 594.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Dorman Products during the third quarter worth approximately $29,000. Finally, Quent Capital LLC purchased a new position in shares of Dorman Products during the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

DORM has been the topic of several research analyst reports. Zacks Research cut Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Wall Street Zen downgraded Dorman Products from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings lowered Dorman Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Dorman Products presently has an average rating of “Moderate Buy” and a consensus target price of $180.50.

Dorman Products Trading Up 1.9%

Shares of NASDAQ:DORM opened at $126.59 on Tuesday. The company has a market capitalization of $3.87 billion, a PE ratio of 15.76 and a beta of 0.92. The company has a current ratio of 2.94, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. Dorman Products, Inc. has a 12-month low of $106.95 and a 12-month high of $166.89. The business’s fifty day simple moving average is $126.66 and its 200-day simple moving average is $138.30.

Insider Activity

In other Dorman Products news, insider John Mcknight sold 2,000 shares of Dorman Products stock in a transaction 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 of the company’s stock, valued at approximately $1,173,625.60. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donna M. Long sold 812 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.