Equitable Trust Co. Boosts Stake in Dorman Products, Inc. $DORM

Key Points

• Equitable Trust Co. increased its stake in Dorman Products by 60.1% in Q2, holding 7,390 shares valued at approximately $907,000.
• Wells Fargo initiated coverage on Dorman Products with an "overweight" rating and a target price of $175.00, while Zacks upgraded the stock to a "strong-buy" rating.
• Dorman Products reported an earnings per share (EPS) of $2.06 for the last quarter, surpassing expectations by $0.30 and indicating a 7.6% year-over-year revenue growth.

Equitable Trust Co. grew its stake in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 60.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,390 shares of the auto parts company's stock after buying an additional 2,773 shares during the period. Equitable Trust Co.'s holdings in Dorman Products were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DORM. Blue Trust Inc. raised its holdings in shares of Dorman Products by 42.5% during the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after purchasing an additional 150 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Dorman Products by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock worth $69,000 after purchasing an additional 195 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Dorman Products during the first quarter worth $71,000. Vestcor Inc purchased a new position in shares of Dorman Products during the first quarter worth $92,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Dorman Products by 38.8% during the first quarter. Advisors Asset Management Inc. now owns 912 shares of the auto parts company's stock worth $110,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DORM. Wells Fargo & Company began coverage on shares of Dorman Products in a report on Friday, August 22nd. They set an "overweight" rating and a $175.00 target price for the company. Zacks Research raised shares of Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. BMO Capital Markets began coverage on shares of Dorman Products in a report on Thursday, September 18th. They issued an "outperform" rating and a $180.00 price objective for the company. Wall Street Zen cut shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Roth Capital lifted their price objective on shares of Dorman Products to $182.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $175.00.

Insider Transactions at Dorman Products

In related news, CAO Gregory C. Bowen sold 1,453 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $162.81, for a total transaction of $236,562.93. Following the transaction, the chief accounting officer directly owned 4,659 shares in the company, valued at approximately $758,531.79. The trade was a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Donna M. Long sold 820 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $122.21, for a total transaction of $100,212.20. Following the transaction, the senior vice president owned 19,074 shares in the company, valued at $2,331,033.54. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.90% of the stock is owned by insiders.

Dorman Products Stock Up 1.2%

DORM stock opened at $140.06 on Wednesday. The stock has a market capitalization of $4.28 billion, a P/E ratio of 19.06 and a beta of 0.84. The firm has a 50-day simple moving average of $154.47 and a 200-day simple moving average of $133.23. 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 52 week low of $106.95 and a 52 week high of $166.89.

Dorman Products (NASDAQ:DORM - Get Free Report) last released its earnings results on Monday, August 4th. The auto parts company reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.30. The business had revenue of $540.96 million during the quarter, compared to analysts' expectations of $517.13 million. Dorman Products had a net margin of 10.83% and a return on equity of 19.23%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Equities analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current fiscal 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.

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