Voya Investment Management LLC Sells 6,093 Shares of Dorman Products, Inc. $DORM

Voya Investment Management LLC lessened its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 39.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,423 shares of the auto parts company’s stock after selling 6,093 shares during the period. Voya Investment Management LLC’s holdings in Dorman Products were worth $1,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Salem Investment Counselors Inc. purchased a new stake in Dorman Products during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in shares of Dorman Products by 594.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock valued at $29,000 after acquiring an additional 202 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Dorman Products by 961.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 298 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Dorman Products by 30.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 428 shares of the auto parts company’s stock worth $53,000 after purchasing an additional 100 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Dorman Products during the first quarter valued at $71,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other Dorman Products news, insider John Mcknight sold 2,000 shares of Dorman Products stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $128.80, for a total value of $257,600.00. Following the sale, the insider owned 9,112 shares of the company’s stock, valued at $1,173,625.60. The trade was a 18.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DORM shares. Wall Street Zen cut Dorman Products from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 26th. Zacks Research cut shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorman Products in a report on Monday, December 22nd. BMO Capital Markets began coverage on shares of Dorman Products in a research note on Thursday, September 18th. They issued an “outperform” rating and a $180.00 price objective for the company. Finally, Stephens started coverage on shares of Dorman Products in a research report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dorman Products presently has a consensus rating of “Buy” and an average target price of $180.50.

Dorman Products Stock Down 0.6%

Shares of DORM stock opened at $125.85 on Tuesday. The stock has a market cap of $3.85 billion, a P/E ratio of 15.67 and a beta of 0.88. Dorman Products, Inc. has a 52 week low of $106.95 and a 52 week high of $166.89. The company has a quick ratio of 1.19, a current ratio of 2.94 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $132.30 and its two-hundred day simple moving average is $138.03.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 earnings per share for the quarter, beating 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 quarter last year, the business posted $1.96 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Analysts predict that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

About Dorman Products

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.