Algert Global LLC Buys 29,956 Shares of Dorman Products, Inc. $DORM

Key Points

• Algert Global LLC increased its stake in Dorman Products, Inc. by 34.5%, owning approximately $14.1 million worth of shares after purchasing an additional 29,956 shares during the 1st quarter.
• Several hedge funds have boosted their holdings in Dorman Products, including Invesco Ltd., which increased its stake by 22.1%, now owning $91.7 million in shares.
• Dorman Products reported a 7.6% revenue increase year-over-year for the quarter, with earnings per share of $2.06, exceeding the consensus estimate by $0.30.

Algert Global LLC lifted its stake in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,884 shares of the auto parts company's stock after buying an additional 29,956 shares during the period. Algert Global LLC owned about 0.38% of Dorman Products worth $14,089,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. USA Financial Formulas boosted its position in shares of Dorman Products by 127.6% during the first quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock valued at $47,000 after buying an additional 217 shares during the last quarter. Blue Trust Inc. boosted its position in Dorman Products by 42.5% in the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after purchasing an additional 150 shares during the last quarter. TD Private Client Wealth LLC boosted its position in Dorman Products by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock worth $69,000 after purchasing an additional 195 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Dorman Products in the fourth quarter worth $86,000. Finally, Vestcor Inc purchased a new position in Dorman Products in the first quarter worth $92,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Insider Activity at Dorman Products

In other news, SVP Donna M. Long sold 820 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $122.21, for a total transaction of $100,212.20. Following the transaction, the senior vice president owned 19,074 shares of the company's stock, valued at $2,331,033.54. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.90% of the stock is owned by corporate insiders.

Dorman Products Stock Performance

Shares of NASDAQ DORM traded up $8.9910 during trading on Friday, reaching $162.1110. 104,862 shares of the stock traded hands, compared to its average volume of 219,641. Dorman Products, Inc. has a 52-week low of $106.21 and a 52-week high of $162.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.74 and a quick ratio of 1.21. The company has a 50-day moving average of $129.55 and a 200-day moving average of $125.49. The stock has a market capitalization of $4.95 billion, a P/E ratio of 22.07 and a beta of 0.79.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.30. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.The firm had revenue of $540.96 million for the quarter, compared to analysts' expectations of $517.13 million. During the same quarter in the prior year, the firm earned $1.67 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DORM. Wells Fargo & Company began coverage on Dorman Products in a research report on Friday. They issued an "overweight" rating and a $175.00 price objective on the stock. Wall Street Zen cut Dorman Products from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Zacks Research raised Dorman Products from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $154.00.

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.