Dorman Products, Inc. $DORM Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Dorman Products by 192.9% in Q1, now holding approximately $61.69 million worth of shares.
• Dorman Products reported $2.06 EPS for the last quarter, exceeding analyst expectations of $1.76, while revenue grew by 7.6% year-over-year.
• Brokerages recently updated Dorman's stock rating, with Zacks upgrading it to a "strong-buy" and Wells Fargo issuing an "overweight" rating with a price target of $175.00.

Wellington Management Group LLP boosted its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 192.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 511,791 shares of the auto parts company's stock after purchasing an additional 337,074 shares during the quarter. Wellington Management Group LLP owned approximately 1.68% of Dorman Products worth $61,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas increased its position in shares of Dorman Products by 127.6% in the first quarter. USA Financial Formulas now owns 387 shares of the auto parts company's stock valued at $47,000 after buying an additional 217 shares in the last quarter. Blue Trust Inc. increased its position 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 valued at $61,000 after buying an additional 150 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of 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 valued at $69,000 after buying an additional 195 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Dorman Products in the fourth quarter valued at approximately $86,000. Finally, Vestcor Inc purchased a new stake in shares of Dorman Products in the first quarter valued at approximately $92,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DORM has been the subject of a number of recent analyst reports. Roth Capital boosted their price objective on Dorman Products to $182.00 and gave the company a "buy" rating in a research report on Tuesday. 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, Dorman Products presently has a consensus rating of "Buy" and a consensus price target of $161.00.

Insiders Place Their Bets

In related news, SVP Donna M. Long sold 820 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $122.21, for a total value of $100,212.20. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.90% of the company's stock.

Dorman Products Trading Down 2.1%

Dorman Products stock traded down $3.37 during mid-day trading on Thursday, hitting $160.20. The company's stock had a trading volume of 46,902 shares, compared to its average volume of 219,096. The firm has a market capitalization of $4.89 billion, a PE ratio of 21.86 and a beta of 0.79. Dorman Products, Inc. has a 1 year low of $106.21 and a 1 year high of $165.05. 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's fifty day moving average is $132.77 and its two-hundred day moving average is $126.41.

Dorman Products (NASDAQ:DORM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.30. The company had revenue of $540.96 million during the quarter, compared to analyst estimates of $517.13 million. Dorman Products had a return on equity of 19.23% and a net margin of 10.83%.The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.67 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, analysts anticipate that Dorman Products, Inc. will post 6.9 EPS 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.