Geode Capital Management LLC Increases Stake in Dorman Products, Inc. $DORM

Geode Capital Management LLC raised its stake in Dorman Products, Inc. (NASDAQ:DORM) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 677,100 shares of the auto parts company’s stock after acquiring an additional 25,286 shares during the quarter. Geode Capital Management LLC’s holdings in Dorman Products were worth $83,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DORM. Caitong International Asset Management Co. Ltd lifted its stake in shares of Dorman Products by 961.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 298 shares during the period. Acadian Asset Management LLC purchased a new position in Dorman Products in the first quarter valued at $71,000. Vestcor Inc acquired a new position in shares of Dorman Products in the first quarter worth about $92,000. Advisors Asset Management Inc. boosted its stake in shares of Dorman Products by 38.8% during the 1st quarter. Advisors Asset Management Inc. now owns 912 shares of the auto parts company’s stock worth $110,000 after acquiring an additional 255 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Dorman Products by 52.8% during the 1st quarter. IFP Advisors Inc now owns 1,129 shares of the auto parts company’s stock valued at $136,000 after acquiring an additional 390 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Activity at Dorman Products

In other news, CAO Gregory C. Bowen sold 1,453 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $162.81, for a total value of $236,562.93. Following the transaction, the chief accounting officer directly owned 4,659 shares of the company’s stock, 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 filing with the SEC, which is available at this link. 8.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on DORM. Zacks Research cut Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. BMO Capital Markets initiated coverage on Dorman Products in a research note on Thursday, September 18th. They set an “outperform” rating and a $180.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Dorman Products in a research note on Friday, August 22nd. They issued an “overweight” rating and a $175.00 price target on the stock. Roth Capital boosted their price target on shares of Dorman Products to $182.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Stephens initiated coverage on shares of Dorman Products in a report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $180.50.

Dorman Products Stock Performance

Shares of NASDAQ:DORM opened at $131.32 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.94 and a quick ratio of 1.21. Dorman Products, Inc. has a 1 year low of $106.95 and a 1 year high of $166.89. The firm has a market capitalization of $4.01 billion, a PE ratio of 16.35 and a beta of 0.84. The business’s 50 day moving average price is $143.90 and its 200-day moving average price is $137.78.

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

Dorman Products 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.