Great Lakes Advisors LLC Sells 1,798 Shares of Dorman Products, Inc. $DORM

Key Points

• Great Lakes Advisors LLC reduced its stake in Dorman Products, Inc. by 3.4%, owning approximately $6.2 million worth of shares after the sale.
• Wall Street analysts have shown a positive outlook on Dorman Products, with Zacks Research upgrading the stock from a "hold" to a "strong-buy" rating.
• Dorman Products reported a growth of 7.6% in quarterly revenue year-over-year, totaling $540.96 million for the period.

Great Lakes Advisors LLC reduced its position in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,423 shares of the auto parts company's stock after selling 1,798 shares during the period. Great Lakes Advisors LLC owned 0.17% of Dorman Products worth $6,199,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas lifted its position in shares of Dorman Products by 127.6% in the first quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock worth $47,000 after buying an additional 217 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Dorman Products by 42.5% in the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after buying an additional 150 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Dorman Products by 51.3% in the first 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 in the last quarter. Vestcor Inc purchased a new stake in shares of Dorman Products in the first quarter worth about $92,000. Finally, Advisors Asset Management Inc. raised its position in Dorman Products by 38.8% during the first quarter. Advisors Asset Management Inc. now owns 912 shares of the auto parts company's stock valued at $110,000 after purchasing an additional 255 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dorman Products

In related news, SVP Donna M. Long sold 820 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $122.21, for a total value of $100,212.20. Following the transaction, the senior vice president owned 19,074 shares of the company's stock, valued at $2,331,033.54. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.90% of the company's stock.

Analysts Set New Price Targets

DORM has been the topic of a number of recent research reports. Zacks Research upgraded Dorman Products from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Roth Capital upped their price objective on Dorman Products to $182.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Wall Street Zen downgraded Dorman Products from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company initiated coverage on Dorman Products in a research report on Friday, August 22nd. They set an "overweight" rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, Dorman Products currently has an average rating of "Buy" and a consensus target price of $170.00.

Dorman Products Trading Up 0.2%

Shares of NASDAQ DORM traded up $0.26 during midday trading on Monday, hitting $161.59. The company's stock had a trading volume of 21,737 shares, compared to its average volume of 214,992. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $141.76 and its two-hundred day moving average is $129.47. Dorman Products, Inc. has a 12-month low of $106.21 and a 12-month high of $166.89. The firm has a market cap of $4.93 billion, a P/E ratio of 21.98 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 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business posted $1.67 earnings per share. The company's revenue for the quarter 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, equities research analysts expect that Dorman Products, Inc. will post 6.9 EPS for the current year.

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.