Truist Financial Corp Sells 193 Shares of Dorman Products, Inc. $DORM

Truist Financial Corp cut its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,567 shares of the auto parts company’s stock after selling 193 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Dorman Products worth $4,363,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Dorman Products by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,469 shares of the auto parts company’s stock valued at $298,000 after buying an additional 90 shares during the period. Xponance Inc. boosted its position in Dorman Products by 4.8% during the first quarter. Xponance Inc. now owns 1,966 shares of the auto parts company’s stock valued at $237,000 after purchasing an additional 90 shares in the last quarter. New York State Teachers Retirement System boosted its position in Dorman Products by 0.4% during the first quarter. New York State Teachers Retirement System now owns 24,741 shares of the auto parts company’s stock valued at $2,982,000 after purchasing an additional 100 shares in the last quarter. QRG Capital Management Inc. boosted its position in Dorman Products by 7.7% during the first quarter. QRG Capital Management Inc. now owns 1,836 shares of the auto parts company’s stock valued at $221,000 after purchasing an additional 131 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Dorman Products by 42.5% in the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company’s stock worth $61,000 after purchasing an additional 150 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dorman Products news, SVP Donna M. Long sold 820 shares of Dorman Products stock in a transaction on Monday, July 28th. The stock was sold at an average price of $122.21, for a total value of $100,212.20. Following the sale, the senior vice president owned 19,074 shares in the company, valued at $2,331,033.54. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gregory C. Bowen sold 1,453 shares of Dorman Products stock in a transaction on Friday, September 12th. The shares were sold at an average price of $162.81, for a total value of $236,562.93. Following the completion of the sale, the chief accounting officer owned 4,659 shares in the company, valued at $758,531.79. This represents a 23.77% decrease in their position. The disclosure for this sale can be found here. 8.90% of the stock is owned by insiders.

Dorman Products Stock Performance

NASDAQ DORM opened at $143.00 on Wednesday. The stock’s fifty day moving average is $152.71 and its two-hundred day moving average is $132.66. The firm has a market capitalization of $4.37 billion, a P/E ratio of 19.46 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. Dorman Products, Inc. has a fifty-two week low of $106.95 and a fifty-two week high of $166.89.

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, topping analysts’ consensus estimates of $1.76 by $0.30. The company had revenue of $540.96 million for 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 firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. 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 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DORM. BMO Capital Markets began coverage on Dorman Products in a research note on Thursday, September 18th. They issued an “outperform” rating and a $180.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dorman Products in a research report on Saturday, September 27th. Roth Capital lifted their price target on Dorman Products to $182.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Stephens started coverage on Dorman Products in a report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on Dorman Products in a report on Friday, August 22nd. They issued an “overweight” rating and a $175.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $175.00.

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.