US Bancorp DE Cuts Holdings in Dorman Products, Inc. $DORM

US Bancorp DE cut its stake in Dorman Products, Inc. (NASDAQ:DORM) by 13.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,868 shares of the auto parts company’s stock after selling 1,070 shares during the quarter. US Bancorp DE’s holdings in Dorman Products were worth $842,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Dorman Products by 2.3% during the first quarter. Principal Financial Group Inc. now owns 141,288 shares of the auto parts company’s stock valued at $17,031,000 after acquiring an additional 3,206 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Dorman Products by 12.5% during the first quarter. Flagship Harbor Advisors LLC now owns 2,493 shares of the auto parts company’s stock valued at $301,000 after acquiring an additional 277 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Dorman Products by 40.8% during the first quarter. GAMMA Investing LLC now owns 945 shares of the auto parts company’s stock valued at $114,000 after acquiring an additional 274 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of 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 acquiring an additional 100 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Dorman Products by 42.5% during the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company’s stock valued at $61,000 after acquiring an additional 150 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DORM has been the subject of several recent analyst reports. Weiss Ratings upgraded Dorman Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Zacks Research upgraded Dorman Products from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Dorman Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday. 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 target for the company. Finally, Roth Capital lifted their price target on Dorman Products to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, Dorman Products presently has a consensus rating of “Buy” and a consensus target price of $175.00.

Dorman Products Stock Performance

Shares of DORM stock opened at $143.05 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $154.70 and a two-hundred day moving average of $133.64. 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 $4.37 billion, a P/E ratio of 19.46 and a beta of 0.84.

Dorman Products (NASDAQ:DORM) last released its quarterly earnings results 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 company had revenue of $540.96 million for the quarter, compared to analysts’ expectations of $517.13 million. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.The business’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. As a group, analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

Insider Buying and Selling

In other news, SVP Donna M. Long sold 820 shares of Dorman Products 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 sale, the senior vice president owned 19,074 shares of the company’s stock, valued at approximately $2,331,033.54. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Gregory C. Bowen sold 1,453 shares of Dorman Products stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 4,659 shares in the company, valued at approximately $758,531.79. This trade represents a 23.77% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.90% of the company’s stock.

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.