Ritholtz Wealth Management Boosts Holdings in Dorman Products, Inc. $DORM

Key Points

• Ritholtz Wealth Management increased its holdings in Dorman Products by 64.7% during Q2, totaling 24,578 shares worth approximately $3.0 million.
• Analysts have issued positive ratings for Dorman Products, with Roth Capital setting a new price target of $182 and Zacks upgrading it to a strong-buy rating.
• Dorman Products reported strong Q2 earnings, with an EPS of $2.06, exceeding estimates and showing a 7.6% increase in revenue compared to the previous year.

Ritholtz Wealth Management grew its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 64.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,578 shares of the auto parts company's stock after purchasing an additional 9,652 shares during the period. Ritholtz Wealth Management owned approximately 0.08% of Dorman Products worth $3,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DORM. GAMMA Investing LLC increased its stake in shares of Dorman Products by 40.8% in the first quarter. GAMMA Investing LLC now owns 945 shares of the auto parts company's stock worth $114,000 after buying an additional 274 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Dorman Products by 3.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,469 shares of the auto parts company's stock worth $298,000 after buying an additional 90 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Dorman Products by 7.7% in the first quarter. QRG Capital Management Inc. now owns 1,836 shares of the auto parts company's stock worth $221,000 after buying an additional 131 shares during the last quarter. Blue Trust Inc. increased its stake 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 during the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Dorman Products by 12.5% in the first quarter. Flagship Harbor Advisors LLC now owns 2,493 shares of the auto parts company's stock worth $301,000 after buying an additional 277 shares during the last quarter. Institutional investors own 84.70% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DORM shares. Roth Capital lifted their price target on shares of Dorman Products to $182.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Zacks Research upgraded shares of Dorman Products from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Stephens started coverage on shares of Dorman Products in a research note on Tuesday, September 30th. They set an "overweight" rating and a $185.00 target price for the company. Wall Street Zen lowered shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets started coverage on shares of Dorman Products in a research note on Thursday, September 18th. They set an "outperform" rating and a $180.00 target price for the company. 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, Dorman Products presently has an average rating of "Buy" and a consensus target price of $175.00.

Insider Activity

In related news, SVP Donna M. Long sold 820 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Gregory C. Bowen sold 1,453 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $162.81, for a total transaction of $236,562.93. Following the completion of the sale, the chief accounting officer directly owned 4,659 shares of the company's stock, valued at $758,531.79. The trade was a 23.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.90% of the company's stock.

Dorman Products Stock Performance

Shares of DORM opened at $141.22 on Thursday. Dorman Products, Inc. has a 1 year low of $106.95 and a 1 year high of $166.89. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 19.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74. The firm has a fifty day moving average of $154.47 and a 200-day moving average of $133.28.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $517.13 million. During the same quarter in the previous year, the company posted $1.67 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Dorman Products Company 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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