Royal Bank of Canada Sells 3,465 Shares of Dorman Products, Inc. $DORM

Royal Bank of Canada cut its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,439 shares of the auto parts company's stock after selling 3,465 shares during the quarter. Royal Bank of Canada owned approximately 0.77% of Dorman Products worth $28,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. lifted its holdings in shares of Dorman Products by 22.1% in the first quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company's stock worth $91,704,000 after buying an additional 137,913 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Dorman Products by 0.7% in the first quarter. GW&K Investment Management LLC now owns 601,363 shares of the auto parts company's stock worth $72,489,000 after buying an additional 4,363 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Dorman Products by 32.1% in the first quarter. Jennison Associates LLC now owns 598,642 shares of the auto parts company's stock worth $72,160,000 after buying an additional 145,391 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Dorman Products by 192.9% in the first quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company's stock worth $61,691,000 after buying an additional 337,074 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Dorman Products by 30.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 427,104 shares of the auto parts company's stock worth $51,483,000 after buying an additional 99,084 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dorman Products news, SVP Donna M. Long sold 820 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $122.21, for a total transaction of $100,212.20. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.90% of the stock is owned by insiders.

Dorman Products Price Performance

DORM traded down $2.31 on Friday, reaching $161.33. The company had a trading volume of 77,809 shares, compared to its average volume of 178,574. Dorman Products, Inc. has a 52-week low of $106.21 and a 52-week high of $166.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. The business has a 50 day simple moving average of $141.76 and a 200 day simple moving average of $129.42. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 21.95 and a beta of 0.82.

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 net margin of 10.83% and a return on equity of 19.23%. The business had revenue of $540.96 million for the quarter, compared to analysts' expectations of $517.13 million. During the same period last year, the business earned $1.67 earnings per share. The business's quarterly revenue was up 7.6% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. As a group, sell-side analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DORM shares. Wall Street Zen downgraded shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Zacks Research raised shares of Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Wells Fargo & Company started coverage on shares of Dorman Products in a report on Friday, August 22nd. They issued an "overweight" rating and a $175.00 price target on the stock. Finally, Roth Capital increased their price target on shares of Dorman Products to $182.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $161.00.

About Dorman Products

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.