Invesco Ltd. Raises Position in Dorman Products, Inc. $DORM

Invesco Ltd. lifted its stake in Dorman Products, Inc. (NASDAQ:DORM) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812,031 shares of the auto parts company’s stock after purchasing an additional 51,257 shares during the period. Invesco Ltd. owned 2.66% of Dorman Products worth $99,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of DORM. Wellington Management Group LLP increased its position in Dorman Products by 192.9% in the first quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock worth $61,691,000 after buying an additional 337,074 shares in the last quarter. Norges Bank purchased a new stake in Dorman Products in the 2nd quarter worth approximately $40,449,000. Nuveen LLC purchased a new stake in Dorman Products in the 1st quarter worth approximately $25,976,000. Jennison Associates LLC raised its stake in Dorman Products by 24.3% during the 2nd quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock worth $91,316,000 after acquiring an additional 145,758 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Dorman Products by 24,717.5% during the second quarter. Bessemer Group Inc. now owns 109,445 shares of the auto parts company’s stock valued at $13,425,000 after purchasing an additional 109,004 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Gregory C. Bowen sold 1,453 shares of Dorman Products stock in a transaction on Friday, September 12th. The stock was sold at an average price of $162.81, for a total transaction of $236,562.93. Following the completion of the sale, the chief accounting officer directly owned 4,659 shares in the company, valued at approximately $758,531.79. This trade represents a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.90% of the stock is owned by company insiders.

Dorman Products Stock Performance

NASDAQ DORM opened at $123.77 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.94 and a quick ratio of 1.19. Dorman Products, Inc. has a 1-year low of $106.95 and a 1-year high of $166.89. The business has a 50 day simple moving average of $137.59 and a two-hundred day simple moving average of $138.11. The stock has a market capitalization of $3.78 billion, a PE ratio of 15.41 and a beta of 0.88.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.31. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.The business had revenue of $543.74 million for the quarter, compared to analysts’ expectations of $548.60 million. During the same period in the prior year, the firm earned $1.96 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, research analysts predict that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DORM. Wells Fargo & Company initiated coverage on shares of Dorman Products in a research report on Friday, August 22nd. They set an “overweight” rating and a $175.00 price objective on the stock. Roth Capital raised their price target on Dorman Products to $182.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Wall Street Zen lowered Dorman Products from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 26th. Zacks Research cut Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dorman Products in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Dorman Products currently has a consensus rating of “Buy” and an average target price of $180.50.

About Dorman Products

Dorman Products, Inc supplies replacement and upgrade parts for passenger cars, light trucks, medium- and heavy-duty trucks, utility terrain vehicles, and all-terrain vehicles in the motor vehicle aftermarket industry in the United States and internationally. It offers engine products, including intake and exhaust manifolds, fans, thermostat housings, and throttle bodies; undercar products comprising fluid lines, fluid reservoirs, connectors, 4-wheel drive components and axles, drain plugs, other engine, and transmission and axle components; steering and suspension products consist of control arms, ball joints, tie-rod ends, brake hardware and hydraulics, wheel and axle hardware, suspension arms, knuckles, links, bushings, and leaf springs, as well as other suspension, steering, and brake components; body products, such as door handles and hinges, window lift motors, window regulators, switches and handles, wiper components, lighting, electrical, and other interior and exterior vehicle body components, including windshields for UTVs; electronics products comprise new and remanufactured modules, clusters and sensors; and hardware products, such as threaded bolts and auto body fasteners, automotive and home electrical wiring components, and other hardware assortments and merchandise.