Dorman Products, Inc. $DORM Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Dorman Products by 51.4%, now holding 21,197 shares worth approximately $2.56 million.
• Several other institutional investors, including Principal Financial Group and GAMMA Investing LLC, significantly increased their holdings in Dorman Products during the same period.
• Dorman Products reported a $2.06 EPS for the quarter, exceeding estimates and reflecting a 7.6% year-over-year revenue increase to $540.96 million.

Cubist Systematic Strategies LLC lessened its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 51.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,197 shares of the auto parts company's stock after selling 22,427 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.07% of Dorman Products worth $2,555,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas grew its stake in Dorman Products by 127.6% during the 1st quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock worth $47,000 after buying an additional 217 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Dorman Products by 42.5% in the 1st quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock valued at $61,000 after purchasing an additional 150 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of Dorman Products by 51.3% in the 1st quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock valued at $69,000 after purchasing an additional 195 shares during the last quarter. Vestcor Inc purchased a new position in shares of Dorman Products in the 1st quarter valued at approximately $92,000. Finally, GAMMA Investing LLC grew its stake in shares of Dorman Products by 40.8% in the 1st quarter. GAMMA Investing LLC now owns 945 shares of the auto parts company's stock valued at $114,000 after purchasing an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company's stock.

Wall Street Analyst Weigh In

DORM has been the topic of several analyst reports. Zacks Research upgraded Dorman Products from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Wells Fargo & Company initiated coverage on Dorman Products in a research note on Friday, August 22nd. They issued an "overweight" rating and a $175.00 target price on the stock. Finally, Roth Capital lifted their target price on Dorman Products to $182.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $161.00.

Insider Transactions at Dorman Products

In related news, SVP Donna M. Long sold 820 shares of Dorman Products 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 completion of the transaction, the senior vice president directly owned 19,074 shares of the company's stock, valued at approximately $2,331,033.54. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.90% of the company's stock.

Dorman Products Price Performance

Shares of Dorman Products stock traded up $4.48 during trading on Thursday, reaching $163.64. The company's stock had a trading volume of 123,032 shares, compared to its average volume of 185,739. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. Dorman Products, Inc. has a 12-month low of $106.21 and a 12-month high of $166.89. The company has a market capitalization of $5.00 billion, a P/E ratio of 22.26 and a beta of 0.82. The business has a 50 day moving average price of $141.09 and a 200-day moving average price of $129.17.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.06 earnings per share 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 the consensus estimate of $517.13 million. During the same period in the previous year, the business earned $1.67 earnings per share. The company'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. As a group, sell-side analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

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.