Dorman Products executive sells more than $2.7 million in company stock to Investing.com

Steven L. Berman, director at Dorman products Inc. (NASDAQ: ), sold a significant portion of its holdings in the company. The recent transactions, which took place on September 18 and 19, involved the sale of company shares totaling more than $2.7 million. The sales were made at different prices, with a range of $115.11 to $118.52 per share.

The first set of trades took place on September 18, with Berman selling 3,571 shares at an average price of $115.11. On the same day, additional selling included 8,560 shares at $116.42 and 1,547 shares at $117.52. Selling continued with 2,393 shares being unloaded at an average price of $118.52. The next day, Berman sold another batch of shares, with 3,572 shares at an average of $117.15 and 3,571 shares at $118.08.

After these transactions, Berman’s direct holdings in Dorman Products were reduced, although he still retains a substantial number of shares. The filings indicate that Berman’s remaining direct ownership is 881,513 shares. Additional footnotes in the report highlight that Berman also has indirect ownership through trusts and a 401(k) plan, which includes 24,587 shares represented by units in the company’s Retirement Plan and 401(k) trust.

Investors often monitor insider trading for information about the perspectives of company executives and directors on their firm’s stock. While the reasons behind Berman’s sale were not disclosed, the transactions are properly reported under SEC regulations.

InvestingPro Insights

As investors digest news of Steven L. Berman’s significant stock sale at Dorman Products, Inc. (NASDAQ:DORM), it’s worth considering the company’s recent performance and stock valuation through InvestingPro’s indicators and tips. Dorman Products has demonstrated a robust financial position with a market cap of $3.53 billion and healthy revenue growth of 4.94% over the trailing twelve months through Q2 2024. The company’s gross profit margin is an impressive 38 .8%, reflecting its efficiency in cost management relative to revenue generation.

An InvestingPro tip that stands out for Dorman products is a perfect Piotroski score of 9, indicating a strong financial position across multiple accounting measures. This metric, along with a reported high return over the past year of 47.75%, suggests that the company is performing well fundamentally. Additionally, the company’s stock trades at a low P/E relative to near-term earnings growth, with a Q2 2024 adjusted P/E ratio of 20.04 and a PEG ratio of just 0.21, indicating relative potential of undervaluation. to its earnings growth prospects.

Despite Berman’s sale, Dorman Products remains an interesting prospect for investors, especially given the company’s strong performance over the past three months, indicated by a total price return of 24.79%. In addition, analysts forecast profitability for the year and the company’s liquid assets exceed short-term liabilities, suggesting a stable financial outlook. For those interested in a deeper dive, InvestingPro offers a wealth of additional information, with 11 more InvestingPro tips available at: https://www.investing.com/pro/DORM.

Finally, it’s worth noting that Dorman Products is trading near its 52-week high at 96.5% of this threshold, with its previous close at $117.5. That price point is just above InvestingPro’s estimated fair value of $108.8, but below the analyst target of $115. These valuation figures can provide guidance for investors, taking into account the current positioning of the stock in the market.

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