abrdn plc Cuts Stock Position in Dorman Products, Inc. (NASDAQ:DORM)

abrdn plc reduced its position in Dorman Products, Inc. (NASDAQ:DORM) by 57.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,770 shares of the auto parts company’s stock after selling 195,369 shares during the quarter. abrdn plc’s holdings in Dorman Products were worth $12,159,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DORM. Jennison Associates LLC purchased a new position in shares of Dorman Products in the 3rd quarter worth about $13,507,000. Assenagon Asset Management S.A. boosted its holdings in shares of Dorman Products by 182.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 213,464 shares of the auto parts company’s stock worth $17,805,000 after purchasing an additional 137,979 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Dorman Products by 47.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 145,412 shares of the auto parts company’s stock worth $11,016,000 after purchasing an additional 46,492 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Dorman Products in the 3rd quarter worth about $1,237,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Dorman Products in the 4th quarter worth about $1,184,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Dorman Products from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Barrington Research reissued an “outperform” rating and issued a $90.00 target price on shares of Dorman Products in a research note on Tuesday, February 27th. TheStreet raised Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $116.00 price target on shares of Dorman Products in a research report on Monday, March 25th.

Dorman Products Stock Down 1.9 %

Shares of NASDAQ:DORM opened at $88.08 on Friday. Dorman Products, Inc. has a 52-week low of $60.01 and a 52-week high of $98.55. The firm has a market capitalization of $2.73 billion, a P/E ratio of 21.48 and a beta of 0.81. The stock has a 50 day moving average price of $90.90 and a 200-day moving average price of $82.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.09 and a current ratio of 2.25.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Monday, February 26th. The auto parts company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.16. Dorman Products had a return on equity of 12.92% and a net margin of 6.70%. The firm had revenue of $494.30 million during the quarter, compared to analyst estimates of $494.86 million. During the same quarter in the prior year, the company earned $1.01 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Dorman Products, Inc. will post 5.55 EPS for the current fiscal year.

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.