KLP Kapitalforvaltning AS Decreases Position in Dorman Products, Inc. $DORM

KLP Kapitalforvaltning AS lowered its stake in shares of Dorman Products, Inc. (NASDAQ:DORM) by 38.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,500 shares of the auto parts company’s stock after selling 3,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Dorman Products were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Dorman Products by 42.5% in the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company’s stock valued at $61,000 after buying an additional 150 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Dorman Products by 51.3% in the 1st quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company’s stock valued at $69,000 after purchasing an additional 195 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Dorman Products in the 1st quarter valued at about $71,000. Vestcor Inc purchased a new stake in shares of Dorman Products in the 1st quarter valued at about $92,000. Finally, Advisors Asset Management Inc. increased its position in Dorman Products by 38.8% during the first quarter. Advisors Asset Management Inc. now owns 912 shares of the auto parts company’s stock worth $110,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Stock Up 0.9%

DORM stock opened at $142.49 on Friday. Dorman Products, Inc. has a 52 week low of $106.95 and a 52 week high of $166.89. The company has a market cap of $4.35 billion, a P/E ratio of 19.39 and a beta of 0.84. The company’s 50-day moving average price is $154.63 and its 200 day moving average price is $133.43. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31.

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 the consensus estimate of $1.76 by $0.30. The firm had revenue of $540.96 million during the quarter, compared to the consensus estimate of $517.13 million. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.Dorman Products’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, research analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Activity at Dorman Products

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

Analyst Ratings Changes

Several research firms have commented on DORM. Wall Street Zen lowered Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Weiss Ratings upgraded shares of Dorman Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Roth Capital increased their price target on shares of Dorman Products to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. BMO Capital Markets began coverage on shares of Dorman Products in a report on Thursday, September 18th. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Zacks Research raised shares of Dorman Products from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $175.00.

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.