Police & Firemen s Retirement System of New Jersey Purchases 658 Shares of Dorman Products, Inc. $DORM

Police & Firemen s Retirement System of New Jersey boosted its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 11.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,246 shares of the auto parts company’s stock after buying an additional 658 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Dorman Products were worth $766,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Dorman Products by 22.1% during the first quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company’s stock valued at $91,704,000 after buying an additional 137,913 shares during the period. Jennison Associates LLC grew its holdings in Dorman Products by 24.3% during the 2nd quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock worth $91,316,000 after acquiring an additional 145,758 shares in the last quarter. Geode Capital Management LLC increased its position in Dorman Products by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 677,100 shares of the auto parts company’s stock valued at $83,070,000 after purchasing an additional 25,286 shares during the period. Wellington Management Group LLP increased its position in Dorman Products by 192.9% during the 1st quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock valued at $61,691,000 after purchasing an additional 337,074 shares during the period. Finally, Geneva Capital Management LLC raised its holdings in shares of Dorman Products by 5.9% in the 2nd quarter. Geneva Capital Management LLC now owns 455,971 shares of the auto parts company’s stock valued at $55,934,000 after purchasing an additional 25,242 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DORM. Zacks Research lowered shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. BMO Capital Markets began coverage on Dorman Products in a report on Thursday, September 18th. They issued an “outperform” rating and a $180.00 price target on the stock. Roth Capital boosted their price target on Dorman Products to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Stephens began coverage on Dorman Products in a research report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Dorman Products in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $180.50.

Dorman Products Stock Performance

Shares of DORM stock opened at $131.32 on Monday. The business’s fifty day simple moving average is $143.90 and its 200-day simple moving average is $137.98. The company has a market cap of $4.01 billion, a PE ratio of 16.35 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, Inc. has a 12-month low of $106.95 and a 12-month high of $166.89.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 earnings per share 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 analysts’ expectations of $548.60 million. During the same quarter last year, the firm earned $1.96 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Dorman Products

In other news, CAO Gregory C. Bowen sold 1,453 shares of the company’s stock in a transaction dated 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 owned 4,659 shares in the company, valued at $758,531.79. This represents a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.90% of the company’s stock.

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.