Vanguard Group Inc. Sells 31,960 Shares of Dorman Products, Inc. $DORM

Key Points

• Vanguard Group Inc. reduced its stake in Dorman Products by 1.1%, now holding approximately 2.99 million shares valued at $361.23 million.
• Dorman Products reported a quarterly EPS of $2.06, surpassing analysts' estimates of $1.76, with a revenue increase of 7.6% year-over-year.
• Wall Street analysts have downgraded Dorman Products' rating from "strong-buy" to "buy," reflecting a change in market sentiment.

Vanguard Group Inc. trimmed its position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,996,768 shares of the auto parts company's stock after selling 31,960 shares during the period. Vanguard Group Inc. owned approximately 9.81% of Dorman Products worth $361,230,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. USA Financial Formulas raised its holdings 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 period. 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 worth $61,000 after buying an additional 150 shares during the period. 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 worth $69,000 after buying an additional 195 shares during the period. Johnson Financial Group Inc. acquired a new stake in Dorman Products during the 4th quarter worth approximately $86,000. Finally, Vestcor Inc acquired a new stake in Dorman Products during the 1st quarter worth approximately $92,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Donna M. Long sold 820 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $2,331,033.54. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.90% of the stock is owned by company insiders.

Dorman Products Stock Down 0.6%

Shares of NASDAQ DORM traded down $0.93 during midday trading on Thursday, reaching $153.12. The company's stock had a trading volume of 222,390 shares, compared to its average volume of 263,867. 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 fifty-two week low of $106.21 and a fifty-two week high of $157.59. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 20.83 and a beta of 0.79. The stock has a 50 day simple moving average of $129.55 and a 200-day simple moving average of $125.49.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.06 earnings per share (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 company had revenue of $540.96 million for the quarter, compared to the consensus estimate of $517.13 million. During the same period last year, the company earned $1.67 earnings per share. The firm's revenue 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. Equities research analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on DORM shares. 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 downgraded shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $143.50.

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.