Intech Investment Management LLC Buys 2,743 Shares of Dorman Products, Inc. $DORM

Key Points

• Intech Investment Management LLC increased its holdings in Dorman Products by 12.3%, owning 25,127 shares valued at approximately $3.03 million.
• Dorman Products reported earnings of $2.06 per share for the last quarter, surpassing analysts' expectations of $1.76, and had a 7.6% year-over-year revenue growth.
• Several analysts upgraded Dorman Products' rating, with Zacks Research moving it to a "strong-buy" and Roth Capital raising the price target to $182.00.

Intech Investment Management LLC increased its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 12.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,127 shares of the auto parts company's stock after buying an additional 2,743 shares during the period. Intech Investment Management LLC owned 0.08% of Dorman Products worth $3,029,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. USA Financial Formulas raised its stake in Dorman Products by 127.6% during 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 during the last quarter. Blue Trust Inc. grew its holdings in 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 purchasing an additional 150 shares during the period. TD Private Client Wealth LLC grew its holdings in 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 purchasing an additional 195 shares during the period. Vestcor Inc acquired a new stake in Dorman Products in the first quarter worth $92,000. Finally, Advisors Asset Management Inc. grew its holdings in Dorman Products by 38.8% in 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 period. Institutional investors own 84.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DORM. BMO Capital Markets began coverage on shares of Dorman Products in a report on Thursday. They issued an "outperform" rating and a $180.00 price target 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. 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. Zacks Research upgraded shares of Dorman Products from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, 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 price objective for the company. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $172.50.

Dorman Products Stock Down 1.6%

Shares of DORM traded down $2.56 during trading hours on Friday, reaching $156.44. 291,350 shares of the stock traded hands, compared to its average volume of 158,069. 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 stock has a fifty day simple moving average of $145.13 and a 200 day simple moving average of $130.43. Dorman Products, Inc. has a 52 week low of $106.95 and a 52 week high of $166.89. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 21.28 and a beta of 0.82.

Dorman Products (NASDAQ:DORM - Get Free Report) last released 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 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 analyst estimates of $517.13 million. During the same period last year, the firm earned $1.67 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, equities analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current year.

Insider Transactions at Dorman Products

In related news, CAO Gregory C. Bowen sold 1,453 shares of the firm'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 of the company's stock, valued at $758,531.79. This trade represents a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donna M. Long sold 820 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $122.21, for a total transaction of $100,212.20. Following the transaction, the senior vice president directly 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 company insiders.

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.