Summit Creek Advisors LLC Decreases Stake in Dorman Products, Inc. $DORM

Summit Creek Advisors LLC cut its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,267 shares of the auto parts company’s stock after selling 6,075 shares during the quarter. Summit Creek Advisors LLC owned approximately 0.25% of Dorman Products worth $12,044,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DORM. Norges Bank bought a new stake in shares of Dorman Products in the second quarter valued at approximately $40,449,000. Jennison Associates LLC raised its holdings in Dorman Products by 24.3% during the 2nd quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock valued at $91,316,000 after acquiring an additional 145,758 shares during the period. Tributary Capital Management LLC raised its holdings in Dorman Products by 90.5% during the 3rd quarter. Tributary Capital Management LLC now owns 234,388 shares of the auto parts company’s stock valued at $36,536,000 after acquiring an additional 111,380 shares during the period. Bessemer Group Inc. lifted its position in shares of Dorman Products by 24,717.5% during the second quarter. Bessemer Group Inc. now owns 109,445 shares of the auto parts company’s stock worth $13,425,000 after acquiring an additional 109,004 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Dorman Products by 29.8% in the second quarter. Ameriprise Financial Inc. now owns 398,549 shares of the auto parts company’s stock valued at $48,890,000 after purchasing an additional 91,549 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DORM shares. Wall Street Zen cut Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. BMO Capital Markets began coverage on shares of Dorman Products in a report on Thursday, September 18th. They issued an “outperform” rating and a $180.00 price target on the stock. Stephens started coverage on shares of Dorman Products in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $185.00 price objective for the company. Zacks Research lowered shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorman Products in a research note on Monday, December 29th. One 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 company’s stock. Based on data from MarketBeat.com, Dorman Products has a consensus rating of “Buy” and an average target price of $180.50.

Dorman Products Stock Down 0.4%

DORM stock opened at $127.77 on Monday. The company has a current ratio of 2.94, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $128.64 and its 200 day moving average is $138.16. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 15.91 and a beta of 0.91. Dorman Products, Inc. has a 1-year low of $106.95 and a 1-year high of $166.89.

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

Insider Buying and Selling at Dorman Products

In related news, insider John Mcknight sold 2,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $128.80, for a total value of $257,600.00. Following the transaction, the insider owned 9,112 shares of the company’s stock, valued at $1,173,625.60. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donna M. Long sold 812 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $123.75, for a total value of $100,485.00. Following the sale, the senior vice president owned 17,856 shares in the company, valued at $2,209,680. The trade was a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.90% of the stock is currently owned by insiders.

About Dorman Products

Dorman Products, Inc is a leading independent global supplier of automotive aftermarket parts and hardware. Headquartered in Colmar, Pennsylvania, the company specializes in the design, manufacture and distribution of replacement components for passenger cars, light trucks and commercial vehicles. Dorman’s offerings span both mechanical and electrical systems, providing solutions that help repair shops and retailers address wear-out and collision-related failures on domestic and import vehicles.

The company’s extensive product portfolio includes steering and suspension components, brake system parts, engine management and cooling products, exterior and body hardware, and an array of fasteners, clips and brackets.