Dorman Products, Inc. $DORM Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp cut its stake in Dorman Products by 69.4% in the fourth quarter, selling 24,623 shares and leaving it with 10,838 shares valued at about $1.34 million.
• Dorman Products recently reported better-than-expected quarterly results, with EPS of $1.57 versus estimates of $1.52 and revenue of $528.77 million versus expectations of $524.80 million.
• Wall Street’s view is still generally positive: the stock has a Moderate Buy consensus rating and an average price target of $157, even though some firms recently downgraded their ratings.

Truist Financial Corp reduced its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 69.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,838 shares of the auto parts company's stock after selling 24,623 shares during the quarter. Truist Financial Corp's holdings in Dorman Products were worth $1,335,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DORM. Clark Capital Management Group Inc. increased its position in shares of Dorman Products by 299.6% during the 3rd quarter. Clark Capital Management Group Inc. now owns 316,961 shares of the auto parts company's stock valued at $49,408,000 after purchasing an additional 237,639 shares during the period. Jennison Associates LLC increased its position in shares of Dorman Products by 22.1% during the 4th quarter. Jennison Associates LLC now owns 813,781 shares of the auto parts company's stock valued at $100,250,000 after purchasing an additional 147,233 shares during the period. KTF Investments LLC acquired a new position in shares of Dorman Products during the 4th quarter valued at $13,681,000. Ameriprise Financial Inc. increased its position in shares of Dorman Products by 29.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 398,549 shares of the auto parts company's stock valued at $48,890,000 after purchasing an additional 91,549 shares during the period. Finally, Millennium Management LLC increased its position in shares of Dorman Products by 584.9% during the 3rd quarter. Millennium Management LLC now owns 98,905 shares of the auto parts company's stock valued at $15,417,000 after purchasing an additional 84,465 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DORM. Weiss Ratings cut Dorman Products from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, January 30th. Wall Street Zen cut Dorman Products from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Wells Fargo & Company lowered their price target on Dorman Products from $150.00 to $140.00 and set an "overweight" rating on the stock in a research report on Friday, February 27th. Barrington Research reiterated an "outperform" rating and set a $150.00 price target on shares of Dorman Products in a research report on Monday, May 4th. Finally, Zacks Research cut Dorman Products from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Dorman Products currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

Dorman Products Stock Performance

Shares of NASDAQ DORM opened at $116.16 on Friday. The company has a quick ratio of 1.28, a current ratio of 3.29 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 18.74 and a beta of 0.97. The stock's fifty day simple moving average is $108.97 and its 200 day simple moving average is $121.33. Dorman Products, Inc. has a 52-week low of $98.44 and a 52-week high of $166.89.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its earnings results on Monday, May 4th. The auto parts company reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.05. The business had revenue of $528.77 million for the quarter, compared to analysts' expectations of $524.80 million. Dorman Products had a return on equity of 17.73% and a net margin of 8.84%.The company's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. Dorman Products has set its FY 2026 guidance at 8.100-8.500 EPS. As a group, sell-side analysts forecast that Dorman Products, Inc. will post 8.22 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Donna M. Long sold 947 shares of Dorman Products stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $103.07, for a total value of $97,607.29. Following the transaction, the senior vice president directly owned 20,073 shares in the company, valued at $2,068,924.11. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.70% of the stock is owned by insiders.

Dorman Products Profile

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.

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