Steven L. Berman, a director at Dorman Products , Inc. (NASDAQ:DORM), recently executed a sale of company stock, according to a filing with the Securities and Exchange Commission. Berman sold 130 shares of common stock at an average price of approximately $135.001 per share, amounting to a total transaction value of $17,550. The sale comes as the $4 billion auto parts manufacturer trades near its 52-week high of $146.60, having delivered an impressive 56% return year-to-date.
Following this transaction, Berman retains direct ownership of 864,675 shares. Additionally, he holds indirect ownership stakes in several trusts and a 401(k) plan. These holdings include 100,000 shares held in trust for his grandchildren, 45,825 shares in a Charitable Remainder Trust, and 24,554 shares through a 401(k) Retirement Plan and Trust. According to InvestingPro, the stock is currently trading near its Fair Value, with analysts setting price targets ranging from $116 to $153.
The sale was conducted under a prearranged 10b5-1 trading plan, a common strategy that allows insiders to set up a predetermined plan for selling stocks, thus helping to avoid potential accusations of insider trading. InvestingPro data shows the company maintains a strong financial health score, with 8 additional key insights available to subscribers.
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