Steven L. Berman, a director at Dorman Products , Inc. (NASDAQ:DORM), recently sold shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, executed on October 11, involved the sale of a total of 2,669 shares at prices ranging from $112.51 to $113.03 per share. The total value of these sales amounted to $300,453.
Following these transactions, Berman holds 876,156 shares directly. Additionally, he maintains indirect ownership of 100,000 shares through a trust for his grandchildren, 45,825 shares through a Charitable Remainder Trust, and 24,587 shares via a 401(k) plan.
The filing specifies that Berman's spouse is a co-trustee of the trust holding shares for his grandchildren, and he disclaims beneficial ownership of those shares.
InvestingPro Insights
As Steven L. Berman, a director at Dorman Products, Inc. (NASDAQ:DORM), recently sold shares, it's worth examining the company's current financial position and market performance to provide context for this insider transaction.
According to InvestingPro data, Dorman Products has a market capitalization of $3.64 billion and is trading at a price-to-earnings (P/E) ratio of 21.54. This P/E ratio is relatively low compared to the company's near-term earnings growth, as highlighted by one of the InvestingPro Tips. This could suggest that the stock may be undervalued relative to its earnings potential.
The company's financial health appears robust, with InvestingPro Tips indicating that Dorman Products operates with a moderate level of debt and its liquid assets exceed short-term obligations. This financial stability may provide reassurance to investors despite the recent insider sale.
Dorman Products has shown strong market performance, with a 51.48% price total return over the past year and is currently trading near its 52-week high. The stock's momentum is further evidenced by a 29.19% price total return over the last six months.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for Dorman Products, providing a deeper understanding of the company's financial position and market outlook.
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