Ruffer LLP Increases Position in Dorman Products, Inc. $DORM

Key Points

• Ruffer LLP increased its stake in Dorman Products by 40.6% in Q2, owning 55,616 shares worth approximately $6.8 million.
• Dorman Products reported $2.06 earnings per share for the latest quarter, exceeding expectations, with a revenue increase of 7.6% compared to the previous year.
• The stock has attracted significant interest from institutional investors, with 84.70% of shares owned by this group, reflecting growing confidence in the company’s outlook.

Ruffer LLP lifted its holdings in Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 40.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,616 shares of the auto parts company's stock after purchasing an additional 16,060 shares during the period. Ruffer LLP owned about 0.18% of Dorman Products worth $6,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. TD Private Client Wealth LLC increased its stake in shares of Dorman Products by 139.3% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,376 shares of the auto parts company's stock valued at $169,000 after purchasing an additional 801 shares in the last quarter. Strs Ohio purchased a new position in shares of Dorman Products in the 1st quarter valued at about $1,013,000. Acadian Asset Management LLC purchased a new position in shares of Dorman Products in the 1st quarter valued at about $71,000. Intech Investment Management LLC increased its stake in shares of Dorman Products by 12.3% in the 1st quarter. Intech Investment Management LLC now owns 25,127 shares of the auto parts company's stock valued at $3,029,000 after purchasing an additional 2,743 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Dorman Products by 140.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 126,834 shares of the auto parts company's stock worth $15,289,000 after buying an additional 74,170 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company's stock.

Dorman Products Stock Down 2.3%

NASDAQ:DORM opened at $153.85 on Thursday. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average is $147.20 and its two-hundred day moving average is $130.98. Dorman Products, Inc. has a 52 week low of $106.95 and a 52 week high of $166.89. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 20.93 and a beta of 0.82.

Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $540.96 million for the quarter, compared to analysts' expectations of $517.13 million. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.67 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Research analysts anticipate that Dorman Products, Inc. will post 6.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company assumed coverage on Dorman Products in a research note on Friday, August 22nd. They set an "overweight" rating and a $175.00 price objective for the company. Wall Street Zen lowered Dorman Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Zacks Research upgraded Dorman Products from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Roth Capital boosted their price objective on Dorman Products to $182.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, BMO Capital Markets assumed coverage on Dorman Products in a research note on Thursday, September 18th. They set an "outperform" rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $172.50.

Insider Buying and Selling 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 stock was sold at an average price of $162.81, for a total transaction of $236,562.93. Following the transaction, the chief accounting officer 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 filing with the SEC, which is available through this link. Also, SVP Donna M. Long sold 820 shares of the firm's stock in a transaction dated 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 directly owned 19,074 shares in the company, valued at approximately $2,331,033.54. This represents a 4.12% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.90% of the company's stock.

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.

Want to see what other hedge funds are holding DORM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dorman Products, Inc. (NASDAQ:DORM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.