Dorman Products, Inc. $DORM Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its position in shares of Dorman Products, Inc. (NASDAQ:DORM) by 20.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,562 shares of the auto parts company’s stock after selling 4,870 shares during the quarter. Granite Investment Partners LLC owned about 0.06% of Dorman Products worth $2,277,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DORM. Hillsdale Investment Management Inc. raised its holdings in Dorman Products by 34.8% in the second quarter. Hillsdale Investment Management Inc. now owns 44,960 shares of the auto parts company’s stock valued at $5,515,000 after buying an additional 11,600 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Dorman Products in the first quarter worth $1,149,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Dorman Products in the second quarter worth $321,000. Equitable Trust Co. raised its stake in shares of Dorman Products by 60.1% in the 2nd quarter. Equitable Trust Co. now owns 7,390 shares of the auto parts company’s stock valued at $907,000 after acquiring an additional 2,773 shares during the period. Finally, Strs Ohio acquired a new position in shares of Dorman Products during the 1st quarter valued at $1,013,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dorman Products news, CAO Gregory C. Bowen sold 1,453 shares of the firm’s 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 owned 4,659 shares in the company, valued at approximately $758,531.79. This trade represents a 23.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on DORM shares. Stephens began coverage on Dorman Products in a report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 target price on the stock. BMO Capital Markets began coverage on Dorman Products in a report on Thursday, September 18th. They set an “outperform” rating and a $180.00 target price on the stock. Roth Capital lifted their target price on Dorman Products to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Wall Street Zen lowered Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Finally, Wells Fargo & Company began coverage on shares of Dorman Products in a report on Friday, August 22nd. They issued an “overweight” rating and a $175.00 price objective for the company. One research 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. According to MarketBeat, Dorman Products has a consensus rating of “Buy” and an average price target of $180.50.

Dorman Products Trading Down 1.3%

Shares of NASDAQ DORM opened at $129.10 on Wednesday. Dorman Products, Inc. has a 12-month low of $106.95 and a 12-month high of $166.89. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 16.08 and a beta of 0.88. The company has a current ratio of 2.94, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $140.36 and its 200 day simple moving average is $138.17.

Dorman Products (NASDAQ:DORM) last issued its earnings results on Monday, October 27th. The auto parts company reported $2.62 earnings per share for the quarter, topping the consensus estimate 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 for 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 firm’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. Equities research analysts expect that Dorman Products, Inc. will post 6.9 EPS 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.