Assenagon Asset Management S.A. Sells 6,623 Shares of Dorman Products, Inc. $DORM

Key Points

• Assenagon Asset Management S.A. reduced its stake in Dorman Products by 39.8% in Q2, selling 6,623 shares, leaving it with a holding valued at $1,228,000.
• In its latest earnings report, Dorman Products exceeded earnings expectations with an EPS of $2.06, compared to the consensus estimate of $1.76, achieving a year-over-year revenue increase of 7.6%.
• Analysts have generally rated Dorman Products positively, with BMO Capital Markets setting an "outperform" rating and a price target of $180.00 for the stock.

Assenagon Asset Management S.A. trimmed its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 39.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,011 shares of the auto parts company's stock after selling 6,623 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Dorman Products were worth $1,228,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. USA Financial Formulas lifted its holdings in shares of Dorman Products by 127.6% in the 1st quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock worth $47,000 after acquiring an additional 217 shares during the last quarter. Blue Trust Inc. raised its holdings in Dorman Products by 42.5% during the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock valued at $61,000 after buying an additional 150 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Dorman Products by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock valued at $69,000 after buying an additional 195 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Dorman Products during the 1st quarter valued at $71,000. Finally, Vestcor Inc bought a new stake in Dorman Products during the 1st quarter valued at $92,000. 84.70% of the stock is currently owned by institutional investors.

Dorman Products Stock Up 2.1%

Shares of NASDAQ DORM opened at $155.30 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. Dorman Products, Inc. has a 12 month low of $106.95 and a 12 month high of $166.89. The firm has a market capitalization of $4.74 billion, a PE ratio of 21.13 and a beta of 0.82. The firm has a fifty day simple moving average of $148.47 and a two-hundred day simple moving average of $131.36.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on DORM. BMO Capital Markets began coverage on shares of Dorman Products in a report on Thursday, September 18th. They set an "outperform" rating and a $180.00 price target for the company. Wells Fargo & Company began coverage on shares of Dorman Products in a report on Friday, August 22nd. They set an "overweight" rating and a $175.00 price target for the company. Zacks Research upgraded shares of Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Wall Street Zen lowered shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Roth Capital upped their price target on shares of Dorman Products to $182.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $172.50.

Insider Activity

In related news, SVP Donna M. Long sold 820 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $122.21, for a total value of $100,212.20. Following the completion of the transaction, the senior vice president directly owned 19,074 shares in the company, valued at $2,331,033.54. This trade represents a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gregory C. Bowen sold 1,453 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $162.81, for a total transaction of $236,562.93. Following the completion of the transaction, the chief accounting officer owned 4,659 shares of the company's stock, valued at approximately $758,531.79. The trade was a 23.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.90% of the stock is owned by company insiders.

Dorman Products Company 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.

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