Edgestream Partners L.P. Cuts Position in Dorman Products, Inc. $DORM

Edgestream Partners L.P. cut its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 63.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,531 shares of the auto parts company’s stock after selling 43,423 shares during the period. Edgestream Partners L.P. owned about 0.08% of Dorman Products worth $3,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. New York State Teachers Retirement System boosted its position in Dorman Products by 0.4% in the second quarter. New York State Teachers Retirement System now owns 24,835 shares of the auto parts company’s stock worth $3,047,000 after purchasing an additional 94 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Dorman Products by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 4,556 shares of the auto parts company’s stock worth $559,000 after purchasing an additional 104 shares during the period. First National Advisers LLC boosted its holdings in shares of Dorman Products by 3.6% in the 2nd quarter. First National Advisers LLC now owns 4,758 shares of the auto parts company’s stock worth $584,000 after buying an additional 165 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Dorman Products by 4.7% in the 2nd quarter. Keybank National Association OH now owns 4,406 shares of the auto parts company’s stock worth $540,000 after buying an additional 199 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Dorman Products by 4.6% during the second quarter. Cetera Investment Advisers now owns 4,528 shares of the auto parts company’s stock valued at $555,000 after buying an additional 201 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DORM shares. Stephens assumed coverage on shares of Dorman Products in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 target price on the stock. Wall Street Zen cut shares of Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. Zacks Research lowered Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. BMO Capital Markets assumed coverage on Dorman Products in a research report on Thursday, September 18th. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Wells Fargo & Company started coverage on Dorman Products in a research report on Friday, August 22nd. They set an “overweight” rating and a $175.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $180.50.

Insiders Place Their Bets

In other Dorman Products news, CAO Gregory C. Bowen sold 1,453 shares of Dorman Products stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $162.81, for a total transaction of $236,562.93. Following the completion of the transaction, the chief accounting officer owned 4,659 shares of the company’s stock, valued at $758,531.79. The trade was a 23.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.90% of the stock is owned by insiders.

Dorman Products Stock Down 2.0%

Dorman Products stock opened at $126.36 on Friday. The firm has a 50 day simple moving average of $139.34 and a 200 day simple moving average of $138.02. The company has a current ratio of 2.94, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. 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 $3.86 billion, a price-to-earnings ratio of 15.74 and a beta of 0.88.

Dorman Products (NASDAQ:DORM) last posted its quarterly 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. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.The firm had revenue of $543.74 million during the quarter, compared to analyst estimates of $548.60 million. During the same period last year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current 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.