Norges Bank Buys New Stake in Dorman Products, Inc. $DORM

Key Points

• Norges Bank opened a new position in Dorman Products in the fourth quarter, buying 336,784 shares worth about $41.5 million and owning roughly 1.10% of the company.
• Dorman Products reported Q1 earnings and revenue ahead of estimates, with EPS of $1.57 versus $1.52 expected and revenue of $528.77 million, up 4.2% year over year.
• Analyst sentiment remains generally positive: the stock has a Moderate Buy consensus with an average price target of $157, even as some firms recently trimmed ratings or targets.

Norges Bank bought a new stake in Dorman Products, Inc. (NASDAQ:DORM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 336,784 shares of the auto parts company's stock, valued at approximately $41,488,000. Norges Bank owned approximately 1.10% of Dorman Products as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Dorman Products by 594.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company's stock valued at $29,000 after purchasing an additional 202 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Dorman Products by 26.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 417 shares of the auto parts company's stock valued at $65,000 after purchasing an additional 88 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Dorman Products in the 1st quarter valued at about $71,000. Farther Finance Advisors LLC lifted its holdings in Dorman Products by 96.4% in the 4th quarter. Farther Finance Advisors LLC now owns 807 shares of the auto parts company's stock valued at $99,000 after purchasing an additional 396 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Dorman Products by 11.6% in the 4th quarter. GAMMA Investing LLC now owns 827 shares of the auto parts company's stock valued at $102,000 after purchasing an additional 86 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Dorman Products Trading Up 1.0%

Shares of DORM stock opened at $128.31 on Tuesday. The firm has a market cap of $3.83 billion, a P/E ratio of 20.70 and a beta of 0.99. Dorman Products, Inc. has a 1-year low of $98.44 and a 1-year high of $166.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.29 and a quick ratio of 1.28. The firm's 50-day simple moving average is $114.37 and its 200-day simple moving average is $119.83.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Dorman Products from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Wall Street Zen lowered Dorman Products from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Barrington Research reissued an "outperform" rating and set a $150.00 price target on shares of Dorman Products in a research note on Monday, May 4th. Stephens reissued an "overweight" rating and set a $150.00 price target on shares of Dorman Products in a research note on Wednesday, March 18th. Finally, Wells Fargo & Company reduced their price target on Dorman Products from $150.00 to $140.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.00.

Insider Buying and Selling at Dorman Products

In related news, SVP Donna M. Long sold 947 shares of the 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 of the company's stock, valued at approximately $2,068,924.11. This trade represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 7.70% of the company's stock.

Dorman Products Company 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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