Convergence Financial LLC Buys 1,331 Shares of Dorman Products, Inc. $DORM

Convergence Financial LLC boosted its stake in Dorman Products, Inc. (NASDAQ:DORM) by 71.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,189 shares of the auto parts company’s stock after buying an additional 1,331 shares during the period. Convergence Financial LLC’s holdings in Dorman Products were worth $391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Dorman Products by 22.1% in the 1st quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company’s stock worth $91,704,000 after acquiring an additional 137,913 shares in the last quarter. Jennison Associates LLC grew its stake in Dorman Products by 24.3% in the second quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock worth $91,316,000 after purchasing an additional 145,758 shares during the period. GW&K Investment Management LLC raised its holdings in Dorman Products by 0.7% in the first quarter. GW&K Investment Management LLC now owns 601,363 shares of the auto parts company’s stock worth $72,489,000 after purchasing an additional 4,363 shares in the last quarter. Wellington Management Group LLP lifted its position in Dorman Products by 192.9% during the first quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock valued at $61,691,000 after buying an additional 337,074 shares during the period. Finally, Geneva Capital Management LLC boosted its holdings in shares of Dorman Products by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 455,971 shares of the auto parts company’s stock valued at $55,934,000 after buying an additional 25,242 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Activity at Dorman Products

In other news, CAO Gregory C. Bowen sold 1,453 shares of Dorman Products 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Dorman Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. 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 target price for the company. Stephens began coverage on Dorman Products in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price target on the stock. Finally, Roth Capital raised their price objective on Dorman Products to $182.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $180.50.

Dorman Products Stock Up 0.1%

DORM opened at $131.37 on Thursday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 16.36 and a beta of 0.84. The firm has a 50 day moving average price of $151.20 and a 200-day moving average price of $136.37. Dorman Products, Inc. has a twelve month low of $106.95 and a twelve month high of $166.89. The company has a quick ratio of 1.21, a current ratio of 2.94 and a debt-to-equity ratio of 0.28.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data on Monday, October 27th. The auto parts company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.31. The company had revenue of $543.74 million during the quarter, compared to analysts’ expectations of $548.60 million. Dorman Products had a return on equity of 19.85% and a net margin of 11.62%.Dorman Products’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 earnings per share. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Equities research analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

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.