State of New Jersey Common Pension Fund D Cuts Stock Holdings in Dorman Products, Inc. $DORM

State of New Jersey Common Pension Fund D decreased its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 5.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,925 shares of the auto parts company’s stock after selling 798 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Dorman Products were worth $1,831,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Dorman Products by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 141,288 shares of the auto parts company’s stock valued at $17,031,000 after purchasing an additional 3,206 shares during the period. GAMMA Investing LLC increased its position in Dorman Products by 40.8% during the 1st quarter. GAMMA Investing LLC now owns 945 shares of the auto parts company’s stock valued at $114,000 after purchasing an additional 274 shares during the period. New York State Teachers Retirement System increased its position in Dorman Products by 0.4% during the 1st 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 during the period. KBC Group NV increased its position in Dorman Products by 16.1% during the 1st quarter. KBC Group NV now owns 1,226 shares of the auto parts company’s stock valued at $148,000 after purchasing an additional 170 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Dorman Products during the 1st quarter valued at about $582,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Roth Capital raised their price target on shares of Dorman Products to $182.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings upgraded shares of Dorman Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Zacks Research cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Stephens assumed coverage on shares of Dorman Products in a report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on shares of Dorman Products in a report on Thursday, September 18th. They issued an “outperform” rating and a $180.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $175.00.

Dorman Products Stock Down 0.3%

DORM stock opened at $134.13 on Friday. The firm has a 50 day moving average of $153.09 and a 200 day moving average of $135.94. The stock has a market capitalization of $4.10 billion, a PE ratio of 16.70 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 2.94 and a debt-to-equity ratio of 0.28. Dorman Products, Inc. has a 52 week low of $106.95 and a 52 week high of $166.89.

Dorman Products (NASDAQ:DORM) last released its earnings results on Monday, October 27th. The auto parts company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.31. The company had revenue of $543.74 million during the quarter, compared to analysts’ expectations of $548.60 million. Dorman Products had a net margin of 11.62% and a return on equity of 19.85%. Dorman Products’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Sell-side analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 completion of the sale, the chief accounting officer directly owned 4,659 shares in the company, valued at $758,531.79. This trade represents a 23.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.90% of the stock is owned by company insiders.

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.