T. Rowe Price Investment Management Inc. Lowers Position in Dorman Products, Inc. $DORM

T. Rowe Price Investment Management Inc. lowered its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 9.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 565,444 shares of the auto parts company’s stock after selling 60,458 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Dorman Products were worth $68,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DORM. Wellington Management Group LLP raised its holdings in shares of Dorman Products by 192.9% in the 1st quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock valued at $61,691,000 after acquiring an additional 337,074 shares in the last quarter. Nuveen LLC bought a new position in shares of Dorman Products during the 1st quarter valued at about $25,976,000. Jennison Associates LLC increased its position in shares of Dorman Products by 32.1% during the 1st quarter. Jennison Associates LLC now owns 598,642 shares of the auto parts company’s stock valued at $72,160,000 after purchasing an additional 145,391 shares during the last quarter. Invesco Ltd. increased its position in shares of Dorman Products by 22.1% during the 1st quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company’s stock valued at $91,704,000 after purchasing an additional 137,913 shares during the last quarter. Finally, Cercano Management LLC bought a new position in shares of Dorman Products during the 4th quarter valued at about $16,328,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research upgraded Dorman Products from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 13th. Wells Fargo & Company assumed coverage on Dorman Products in a research report on Friday. They set an “overweight” rating and a $175.00 price objective on the stock. Finally, Wall Street Zen lowered Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $154.00.

Insider Buying and Selling at Dorman Products

In other news, SVP Donna M. Long sold 820 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $122.21, for a total transaction of $100,212.20. Following the completion of the sale, the senior vice president owned 19,074 shares of the company’s stock, valued at approximately $2,331,033.54. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.90% of the company’s stock.

Dorman Products Stock Performance

NASDAQ:DORM opened at $162.73 on Friday. The firm has a market cap of $4.97 billion, a PE ratio of 22.14 and a beta of 0.79. Dorman Products, Inc. has a fifty-two week low of $106.21 and a fifty-two week high of $163.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. The business has a 50 day moving average price of $130.32 and a 200-day moving average price of $125.70.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.30. The firm had revenue of $540.96 million during the quarter, compared to analyst estimates of $517.13 million. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Equities research analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Dorman Products Company Profile

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.