Voya Investment Management LLC Sells 6,093 Shares of Dorman Products, Inc. $DORM

Voya Investment Management LLC reduced its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 39.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,423 shares of the auto parts company’s stock after selling 6,093 shares during the period. Voya Investment Management LLC’s holdings in Dorman Products were worth $1,469,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Dorman Products in the 2nd quarter valued at about $40,449,000. Jennison Associates LLC raised its position in Dorman Products by 24.3% during the second quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock valued at $91,316,000 after purchasing an additional 145,758 shares during the period. Bessemer Group Inc. lifted its stake in shares of Dorman Products by 24,717.5% in the 2nd 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 during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Dorman Products by 29.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 398,549 shares of the auto parts company’s stock worth $48,890,000 after purchasing an additional 91,549 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Dorman Products by 140.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,834 shares of the auto parts company’s stock valued at $15,289,000 after purchasing an additional 74,170 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dorman Products

In related news, insider John Mcknight sold 2,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $128.80, for a total value of $257,600.00. Following the transaction, the insider owned 9,112 shares of the company’s stock, valued at $1,173,625.60. This represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.90% of the stock is currently owned by company insiders.

Dorman Products Trading Down 0.6%

DORM stock opened at $125.85 on Tuesday. Dorman Products, Inc. has a 12 month low of $106.95 and a 12 month high of $166.89. The firm’s 50-day moving average is $132.30 and its 200 day moving average is $138.03. The company has a market capitalization of $3.85 billion, a PE ratio of 15.67 and a beta of 0.88. 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 (NASDAQ:DORM) last released its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.31. The company had revenue of $543.74 million during the quarter, compared to analysts’ expectations of $548.60 million. Dorman Products had a net margin of 11.62% and a return on equity of 19.85%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, research analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on DORM shares. Stephens started coverage on Dorman Products in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price target for the company. Wall Street Zen lowered shares of Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. BMO Capital Markets assumed coverage on shares of Dorman Products in a report on Thursday, September 18th. They set an “outperform” rating and a $180.00 price target on the stock. Zacks Research lowered shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Dorman Products in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Dorman Products currently has an average rating of “Buy” and a consensus target price of $180.50.

Dorman Products Profile

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.