First Citizens Bank & Trust Co. Acquires New Position in Dorman Products, Inc. $DORM

First Citizens Bank & Trust Co. acquired a new stake in shares of Dorman Products, Inc. (NASDAQ:DORM) during the second quarter, HoldingsChannel reports. The fund acquired 2,678 shares of the auto parts company’s stock, valued at approximately $329,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Dorman Products by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 141,288 shares of the auto parts company’s stock valued at $17,031,000 after buying an additional 3,206 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Dorman Products by 40.8% during the 1st quarter. GAMMA Investing LLC now owns 945 shares of the auto parts company’s stock valued at $114,000 after buying an additional 274 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Dorman Products by 0.4% during the 1st quarter. New York State Teachers Retirement System now owns 24,741 shares of the auto parts company’s stock valued at $2,982,000 after buying an additional 100 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Dorman Products by 134.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 35,671 shares of the auto parts company’s stock valued at $4,300,000 after buying an additional 20,448 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Dorman Products by 16.1% during the 1st quarter. KBC Group NV now owns 1,226 shares of the auto parts company’s stock valued at $148,000 after buying an additional 170 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Dorman Products Price Performance

Shares of DORM stock opened at $158.03 on Monday. The firm has a market cap of $4.82 billion, a P/E ratio of 21.50 and a beta of 0.84. Dorman Products, Inc. has a fifty-two week low of $106.95 and a fifty-two week high of $166.89. The business’s 50 day moving average price is $154.74 and its 200-day moving average price is $135.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 2.74.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Monday, August 4th. The auto parts company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.30. The firm had revenue of $540.96 million for 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 business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. On average, equities research analysts anticipate that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insider Buying and Selling at Dorman Products

In related news, CAO Gregory C. Bowen sold 1,453 shares of Dorman Products stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $162.81, for a total transaction of $236,562.93. Following the sale, the chief accounting officer directly owned 4,659 shares in the company, valued at $758,531.79. The trade was a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Sunday. Zacks Research raised Dorman Products from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorman Products in a research note on Friday. Wells Fargo & Company started coverage on Dorman Products in a research note on Friday, August 22nd. They issued an “overweight” rating and a $175.00 price target on the stock. Finally, Roth Capital lifted their price target on Dorman Products to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $175.00.

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.