Joseph P. Braun, the Senior Vice President and General Counsel of Dorman Products , Inc. (NASDAQ:DORM), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Braun sold 6,286 shares of common stock on November 21 at a price of $136 per share, resulting in a total transaction value of $854,896.
The filing also detailed that Braun exercised stock options to acquire 6,286 shares at a price of $61.68 per share. Following these transactions, Braun holds 13,773.5828 shares directly in the company. These moves are part of Braun's ongoing management of his equity in Dorman Products, a company known for its motor vehicle parts and accessories.
InvestingPro Insights
Joseph P. Braun's recent stock sale comes at a time when Dorman Products (NASDAQ:DORM) is experiencing strong market performance. According to InvestingPro data, the company's stock has shown impressive returns, with a 91.16% price total return over the past year and a 51.58% return over the last six months. This aligns with an InvestingPro Tip indicating that DORM has had a "Strong return over the last three months."
The company's financial health appears robust, with a market capitalization of $4.28 billion and a P/E ratio of 23.56. An InvestingPro Tip suggests that DORM is "Trading at a low P/E ratio relative to near-term earnings growth," which could indicate potential value for investors. Additionally, the company's revenue for the last twelve months as of Q3 2024 stood at $1.97 billion, with a gross profit margin of 39.54%.
It's worth noting that while Braun has reduced his position, the stock is trading near its 52-week high, with the current price at 96.66% of that peak. This information, coupled with the InvestingPro Tip that "4 analysts have revised their earnings upwards for the upcoming period," suggests continued optimism about Dorman Products' future performance.
Investors interested in a deeper analysis can access 12 additional InvestingPro Tips for Dorman Products, offering further insights into the company's financial position and market outlook.
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