Dorman Products, Inc. (NASDAQ:DORM) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its holdings in Dorman Products, Inc. by 74.1%, owning approximately 61,317 shares valued at around $7.39 million by the end of the first quarter.
• Dorman Products reported a strong earnings performance, with an EPS of $2.02 for the quarter, significantly exceeding analysts' expectations of $1.48.
• Wall Street Zen upgraded Dorman Products' rating from "buy" to "strong-buy," reflecting increasing confidence in the company's future performance.

Victory Capital Management Inc. boosted its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 74.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,317 shares of the auto parts company's stock after acquiring an additional 26,102 shares during the period. Victory Capital Management Inc. owned 0.20% of Dorman Products worth $7,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its holdings in Dorman Products by 163.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company's stock worth $35,000 after buying an additional 172 shares during the period. USA Financial Formulas increased its position in shares of 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 acquiring an additional 217 shares during the period. Blue Trust Inc. increased its position in shares of Dorman Products by 42.5% during the first quarter. Blue Trust Inc. now owns 503 shares of the auto parts company's stock worth $61,000 after acquiring an additional 150 shares during the period. TD Private Client Wealth LLC increased its position in shares of Dorman Products by 51.3% during the first quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company's stock worth $69,000 after acquiring an additional 195 shares during the period. Finally, Covestor Ltd increased its position in shares of Dorman Products by 46.4% during the fourth quarter. Covestor Ltd now owns 555 shares of the auto parts company's stock worth $72,000 after acquiring an additional 176 shares during the period. Institutional investors own 84.70% of the company's stock.

Insider Activity at Dorman Products

In other news, Director John J. Gavin sold 2,900 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $131.19, for a total transaction of $380,451.00. Following the completion of the sale, the director owned 8,132 shares of the company's stock, valued at $1,066,837.08. The trade was a 26.29% 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. 8.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Dorman Products from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th.

Dorman Products Stock Performance

Shares of NASDAQ:DORM traded up $0.10 on Monday, hitting $122.15. 41,686 shares of the company were exchanged, compared to its average volume of 212,366. Dorman Products, Inc. has a 1-year low of $94.87 and a 1-year high of $146.60. The stock's 50 day moving average price is $125.00 and its 200 day moving average price is $124.14. The company has a current ratio of 2.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $3.73 billion, a P/E ratio of 17.52 and a beta of 0.85.

Dorman Products (NASDAQ:DORM - Get Free Report) last posted its earnings results on Monday, May 5th. The auto parts company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.54. The company had revenue of $507.69 million during the quarter, compared to the consensus estimate of $483.09 million. Dorman Products had a net margin of 10.48% and a return on equity of 19.10%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. Sell-side analysts predict that Dorman Products, Inc. will post 6.9 EPS for the current year.

Dorman Products 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.