Dorman Products director sells over $6.8 million in company stock

In a recent transaction, Steven L. Berman, a director at Dorman Products , Inc. (NASDAQ:DORM ), sold a significant amount of company stock, totaling over $6.8 million. The sales took place on September 16 and 17, with prices ranging from $115.41 to $119.00 per share.


The transactions were spread across multiple trades, with shares being sold at various prices within the given range. On the first day, Berman sold 15,401 shares at an average price of $115.41, and another 12,231 shares at an average price of $116.11. The following day, the director continued by selling 23,152 shares at an average of $117.03, 5,714 shares at an average of $117.97, and finally 2,431 shares at an average price of $119.00.


After these sales, Berman still holds a substantial number of shares in the company. The transactions were made public through a Form 4 filing with the Securities and Exchange Commission, which requires company insiders to disclose sales and purchases of company stock.


Investors often monitor insider transactions as they can provide insights into the perspectives of company executives and directors regarding the firm's prospects. While the reasons behind Berman's sale are not explicitly stated, the disclosure provides transparency for shareholders and potential investors.


Dorman Products, Inc., headquartered in Colmar, Pennsylvania, specializes in the manufacturing of motor vehicle parts and accessories. The company's stock is traded on the NASDAQ under the ticker symbol DORM.InvestingPro Insights


As investors assess the implications of Steven L. Berman's stock sale in Dorman Products, Inc. (NASDAQ:DORM), several key metrics from InvestingPro can provide a broader context. Dorman Products' market capitalization stands at $3.56 billion, reflecting the company's substantial presence in the automotive parts sector. The stock is trading at a price-to-earnings (P/E) ratio of 21.45, which adjusts to a slightly lower 20.15 based on the last twelve months as of Q2 2024, indicating a valuation that is in line with its near-term earnings growth.


On the operational front, Dorman Products boasts a strong gross profit margin of 38.8% over the last twelve months as of Q2 2024, underlining the company's ability to maintain profitability in its manufacturing processes. Furthermore, the company's operating income margin of 16.72% during the same period signals healthy operational efficiency.


Turning to InvestingPro Tips, Dorman Products is noted for operating with a moderate level of debt, which may reassure investors of the company's financial stability. Additionally, analysts predict that the company will be profitable this year, which is consistent with the company's recent financial performance. It's noteworthy that Dorman Products is trading near its 52-week high, with the price at 97.05% of the peak, reflecting a strong market sentiment. For those seeking further insights and analysis, there are additional InvestingPro Tips available at InvestingPro that could further inform investment decisions.

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Source: Investing.com