Tributary Capital Management LLC Acquires 111,380 Shares of Dorman Products, Inc. $DORM

Tributary Capital Management LLC raised its holdings in shares of Dorman Products, Inc. (NASDAQ:DORM) by 90.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,388 shares of the auto parts company’s stock after buying an additional 111,380 shares during the quarter. Dorman Products comprises about 1.7% of Tributary Capital Management LLC’s holdings, making the stock its 21st largest position. Tributary Capital Management LLC owned 0.77% of Dorman Products worth $36,536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DORM. Private Trust Co. NA grew its holdings in shares of Dorman Products by 101.2% during the third quarter. Private Trust Co. NA now owns 165 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 83 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in Dorman Products during the third quarter valued at approximately $27,000. Salomon & Ludwin LLC purchased a new position in Dorman Products in the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Dorman Products by 594.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 236 shares of the auto parts company’s stock worth $29,000 after buying an additional 202 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Dorman Products by 961.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the auto parts company’s stock valued at $40,000 after buying an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Dorman Products Price Performance

Shares of Dorman Products stock opened at $124.39 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.94 and a quick ratio of 1.19. Dorman Products, Inc. has a one year low of $106.95 and a one year high of $166.89. The business’s 50 day simple moving average is $128.90 and its two-hundred day simple moving average is $138.00. The stock has a market capitalization of $3.80 billion, a P/E ratio of 15.49 and a beta of 0.91.

Dorman Products (NASDAQ:DORM) last issued its earnings results 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. Dorman Products had a net margin of 11.62% and a return on equity of 19.85%. The firm had revenue of $543.74 million for the quarter, compared to analysts’ expectations of $548.60 million. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Analysts forecast that Dorman Products, Inc. will post 6.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Zacks Research lowered shares of Dorman Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorman Products in a research report on Monday, December 29th. 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 assumed coverage on Dorman Products in a research report on Thursday, September 18th. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Stephens began coverage on shares of Dorman Products in a research report on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Dorman Products presently has an average rating of “Buy” and a consensus price target of $180.50.

Insider Activity

In other news, SVP Donna M. Long sold 812 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $123.75, for a total transaction of $100,485.00. Following the completion of the sale, the senior vice president directly owned 17,856 shares in the company, valued at approximately $2,209,680. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Mcknight sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $128.80, for a total value of $257,600.00. Following the transaction, the insider directly owned 9,112 shares of the company’s stock, valued at $1,173,625.60. The trade was a 18.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.90% of the company’s stock.

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.