Convergence Investment Partners LLC Makes New $1.10 Million Investment in Dorman Products, Inc. $DORM

Convergence Investment Partners LLC bought a new position in Dorman Products, Inc. (NASDAQ:DORM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,980 shares of the auto parts company’s stock, valued at approximately $1,102,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in Dorman Products by 961.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the auto parts company’s stock worth $40,000 after buying an additional 298 shares in the last quarter. TD Private Client Wealth LLC lifted its position in Dorman Products by 51.3% in the 1st quarter. TD Private Client Wealth LLC now owns 575 shares of the auto parts company’s stock worth $69,000 after buying an additional 195 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Dorman Products in the 1st quarter worth approximately $71,000. Vestcor Inc purchased a new stake in Dorman Products in the 1st quarter worth approximately $92,000. Finally, Advisors Asset Management Inc. lifted its position in Dorman Products by 38.8% in the 1st quarter. Advisors Asset Management Inc. now owns 912 shares of the auto parts company’s stock worth $110,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Activity

In other news, CAO Gregory C. Bowen sold 1,453 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were 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 in the company, valued at approximately $758,531.79. The trade was a 23.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.90% of the company’s stock.

Dorman Products Stock Performance

Shares of DORM opened at $153.75 on Tuesday. The company’s fifty day moving average price is $154.77 and its 200 day moving average price is $135.31. The company has a market capitalization of $4.69 billion, a PE ratio of 20.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.74 and a quick ratio of 1.21. Dorman Products, Inc. has a one year low of $106.95 and a one year high of $166.89.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.31. The business had revenue of $543.74 million for the quarter, compared to the consensus estimate of $548.60 million. Dorman Products had a net margin of 10.83% and a return on equity of 19.23%. Dorman Products’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. As a group, analysts expect that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Roth Capital raised their price target on shares of Dorman Products to $182.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Zacks Research upgraded shares of Dorman Products from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Wall Street Zen downgraded shares of Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Sunday. Stephens assumed coverage on shares of Dorman Products in a report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Dorman Products in a report on Friday, August 22nd. They set an “overweight” rating and a $175.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $175.00.

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.