Dorman Products, Inc. $DORM Stake Decreased by Pembroke Management LTD

Pembroke Management LTD cut its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 166,551 shares of the auto parts company’s stock after selling 4,070 shares during the period. Dorman Products accounts for approximately 2.5% of Pembroke Management LTD’s portfolio, making the stock its 17th biggest holding. Pembroke Management LTD’s holdings in Dorman Products were worth $20,431,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT boosted its position in Dorman Products by 12.9% during the 2nd quarter. Zions Bancorporation National Association UT now owns 10,761 shares of the auto parts company’s stock worth $1,320,000 after acquiring an additional 1,227 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Dorman Products in the second quarter worth about $1,375,000. Los Angeles Capital Management LLC grew its position in Dorman Products by 2.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 9,968 shares of the auto parts company’s stock valued at $1,223,000 after buying an additional 207 shares in the last quarter. Convergence Financial LLC increased its stake in Dorman Products by 71.6% during the 2nd quarter. Convergence Financial LLC now owns 3,189 shares of the auto parts company’s stock valued at $391,000 after buying an additional 1,331 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Dorman Products by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,990 shares of the auto parts company’s stock valued at $22,447,000 after buying an additional 2,732 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on DORM. Zacks Research cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Wells Fargo & Company assumed coverage on Dorman Products in a research report on Friday, August 22nd. They issued an “overweight” rating and a $175.00 target price for the company. 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. Weiss Ratings raised Dorman Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Dorman Products from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Dorman Products presently has an average rating of “Buy” and a consensus price target of $180.50.

Insider Activity

In other news, CAO Gregory C. Bowen sold 1,453 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was 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 of the company’s stock, valued at $758,531.79. This trade represents a 23.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.90% of the stock is owned by insiders.

Dorman Products Price Performance

DORM stock opened at $134.01 on Tuesday. Dorman Products, Inc. has a one year low of $106.95 and a one year high of $166.89. The firm has a 50-day moving average of $149.46 and a two-hundred day moving average of $137.00. The firm has a market capitalization of $4.10 billion, a PE ratio of 16.69 and a beta of 0.84. The company has a current ratio of 2.94, a quick ratio of 1.21 and a debt-to-equity ratio of 0.28.

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

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.