Bank of New York Mellon Corp purchased a new stake in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 165,611 shares of the auto parts company's stock, valued at approximately $22,598,000. Bank of New York Mellon Corp owned 0.55% of Dorman Products as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of DORM. Coldstream Capital Management Inc. raised its stake in shares of Dorman Products by 3.7% during the third quarter. Coldstream Capital Management Inc. now owns 2,696 shares of the auto parts company's stock valued at $420,000 after purchasing an additional 97 shares during the period. Corient Private Wealth LLC boosted its position in Dorman Products by 2.6% in the 2nd quarter. Corient Private Wealth LLC now owns 3,842 shares of the auto parts company's stock valued at $471,000 after buying an additional 99 shares during the last quarter. Mackenzie Financial Corp boosted its position in Dorman Products by 6.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,740 shares of the auto parts company's stock valued at $271,000 after buying an additional 105 shares during the last quarter. Keybank National Association OH grew its stake in shares of Dorman Products by 1.5% during the first quarter. Keybank National Association OH now owns 7,101 shares of the auto parts company's stock valued at $741,000 after acquiring an additional 106 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Dorman Products by 12.8% during the fourth quarter. Huntington National Bank now owns 981 shares of the auto parts company's stock valued at $121,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.
Analyst Upgrades and Downgrades
DORM has been the subject of a number of recent analyst reports. Barrington Research restated an "outperform" rating and set a $150.00 price objective on shares of Dorman Products in a research note on Monday, May 4th. Zacks Research upgraded Dorman Products from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Roth Capital reissued a "buy" rating on shares of Dorman Products in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their price target on shares of Dorman Products from $155.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Dorman Products from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $156.00.
Check Out Our Latest Stock Analysis on Dorman Products
Insider Buying and Selling
In other Dorman Products news, CAO Gregory C. Bowen sold 3,531 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $145.01, for a total value of $512,030.31. Following the completion of the sale, the chief accounting officer directly owned 5,340 shares of the company's stock, valued at approximately $774,353.40. This represents a 39.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by insiders.
Dorman Products Stock Performance
Dorman Products stock opened at $129.35 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.60 and a quick ratio of 1.73. Dorman Products, Inc. has a 12 month low of $98.44 and a 12 month high of $166.89. The company has a fifty day moving average price of $135.33 and a two-hundred day moving average price of $122.72. The company has a market cap of $3.84 billion, a PE ratio of 17.92 and a beta of 0.98.
Dorman Products (NASDAQ:DORM - Get Free Report) last issued its earnings results on Monday, August 3rd. The auto parts company reported $3.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $1.19. Dorman Products had a net margin of 10.18% and a return on equity of 19.37%. The company had revenue of $544.60 million for the quarter, compared to analysts' expectations of $582.24 million. During the same period in the prior year, the company earned $2.06 earnings per share. The firm's revenue was up .7% compared to the same quarter last year. Dorman Products has set its FY 2026 guidance at 8.500-8.800 EPS. Research analysts expect that Dorman Products, Inc. will post 8.65 earnings per share for the current year.
About Dorman Products
(
Free Report)
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.
Further Reading
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