Yousif Capital Management LLC, a prominent investment firm known for its astute financial strategies and innovative approach to wealth management, made headlines today with its recent reduction in holdings of Dorman Products, Inc. (NASDAQ:DORM). This move, as outlined in the firm’s most recent 13F filing with the esteemed Securities and Exchange Commission (SEC), demonstrates Yousif Capital Management’s commitment to adapting to the ever-changing landscape of the market.
According to the 13F filing, Yousif Capital Management LLC decreased its ownership of Dorman Products, Inc. by an impressive 11.5% during the first quarter of this year. The once-ubiquitous holding was reduced to a more calculated 15,922 shares after selling off 2,065 shares over the course of the quarter. With this strategic divestment, Yousif Capital Management has meticulously repositioned itself in response to market dynamics while maintaining its foothold as a notable player in the auto parts industry.
At present, Yousif Capital Management LLC now holds approximately 0.05% of Dorman Products’ outstanding stock, representing a considerable value of $1,373,000 at the close of the most recent quarter. This re-allocation of resources reflects Yousif Capital Management’s unwavering commitment to optimizing their clients’ portfolios by continually seeking new avenues for growth and capital appreciation.
Curious about other hedge funds’ positions on Dorman Products? Individuals driven by data and analytics need not worry as HoldingsChannel.com provides access to the latest 13F filings and insider trades pertaining to Dorman Products, Inc. (NASDAQ:DORM). By keeping tabs on these filings and trades, market enthusiasts can glean valuable insight into how various institutional investors navigate their investment strategies amidst evolving industry trends.
Shares of NASDAQ:DORM opened at $86.71 on Wednesday – an intriguing entry point for discerning investors looking to explore opportunities in the auto parts sector. Dorman Products, Inc., boasting a market capitalization of $2.73 billion, has long been recognized as an industry leader. With a price-to-earnings ratio of 29.70 and a beta of 0.53, the company exhibits stability while maintaining growth potential.
Dorman Products has consistently demonstrated its ability to adapt and thrive in dynamic market conditions. The firm’s robust quick ratio of 0.83 and current ratio of 1.96 underscore its strong financial position and liquidity, providing investors with confidence in the face of uncertainty.
Balancing leverage is another aspect that Dorman Products handles tactfully, with a debt-to-equity ratio of 0.46. This prudent approach to managing capital structure reflects the company’s commitment to sound fiscal decisions and mitigating unnecessary risk.
It is worth noting that despite recent adjustments in Yousif Capital Management’s holdings and the ongoing global economic landscape, Dorman Products’ trajectory remains intriguingly positive. The business witnessed a year-long price range between $73.32 and $108.69, showcasing resilience during times of market volatility.
Taking into consideration the fifty-day simple moving average of $82.11 and the 200-day simple moving average of $86.00, there appears to be ample room for potential upside at current levels – making this an opportune time for investors seeking potential appreciation to evaluate their options carefully.
In conclusion, Yousif Capital Management LLC’s recent reduction in holdings signifies its unwavering commitment to adaptability and strategic wealth management within the auto parts sector specifically designated by Dorman Products, Inc.’s (NASDAQ:DORM) diverse offerings.
While Yousif Capital Management continues focusing on generating optimal returns for its clientele through meticulous portfolio diversification, it would certainly behoove prospective investors to delve deeper into HoldingsChannel.com’s comprehensive collection of invaluable data regarding other hedge funds’ positions on Dorman Products. Furthermore, with the company’s industry-leading prowess, stable financial position, and attractive price range, Dorman Products appears poised for continued success in the market.
For investors seeking potential upside, the opportunity to enter at a reasonable price point alongside Dorman Product’s strong track record should not be overlooked. As always though, prudent evaluation of risk tolerance and thorough due diligence must underpin any investment decision.
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Investor Interest in Dorman Products Inc. (NASDAQ:DORM) Continues to Grow as Hedge Funds Add Holdings and Analysts Weigh In
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”DORM” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Dorman Products Inc. (NASDAQ:DORM) is a prominent player in the automotive aftermarket industry, supplying replacement and upgrade parts for passenger cars, light trucks, and medium- to heavy-duty trucks worldwide. As of the second quarter of 2023, several hedge funds have made modifications to their holdings of DORM.
One notable addition is Point72 Hong Kong Ltd, which acquired a new stake in Dorman Products in the second quarter with an investment valued at approximately $26,000. This move highlights the confidence that Point72 has in the company’s potential for growth and profitability.
Another hedge fund, Quadrant Capital Group LLC, increased its holdings in Dorman Products by 41.5% during the fourth quarter. The firm now owns 876 shares of DORM stock valued at $71,000 after buying an additional 257 shares during that period.
Lazard Asset Management LLC also joined the fray, acquiring a new stake in Dorman Products during the first quarter worth around $94,000. Similarly, Captrust Financial Advisors bolstered its holdings by 24.3% during the same period and now owns 1,962 shares valued at $186,000.
Lastly, Alpha Paradigm Partners LLC purchased a new stake in Dorman Products in the third quarter with an investment amounting to approximately $204,000. With these additions from institutional investors and hedge funds alike, it is evident that there is growing interest in Dorman Products as an investment opportunity.
Experts in equities analysis have been weighing in on DORM recently as well. Barrington Research reaffirmed an “outperform” rating on Dorman Products’ shares and issued a price objective of $127.00 per share on July 28th. On May 18th, StockNews.com initiated coverage on Dorman Products with a “hold” rating for the company’s stock.
Looking at Bloomberg data, it reveals that two analysts have assigned a hold rating, while three analysts have given a buy rating to the company’s stock. With an average rating of “Moderate Buy” from analysts, Dorman Products has an average price target of $111.67.
For those who want to stay updated on the latest 13F filings and insider trades for Dorman Products, Inc., a visit to HoldingsChannel.com can provide valuable insights.
Dorman Products recently reported its quarterly earnings data on May 2nd, revealing that the company fell short of analysts’ consensus estimates. The auto parts company reported earnings per share (EPS) of $0.56 for the quarter compared to an estimated EPS of $0.94, resulting in a difference of ($0.38). Despite this miss, Dorman Products generated revenue of $466.74 million during the quarter, slightly below analysts’ expectations set at $487.43 million.
The company’s net margin stands at 5.12% with a return on equity of 12.38%. It is noteworthy that Dorman Products experienced a 16.2% increase in revenue compared to the previous year’s equivalent period; however, its EPS dropped from $1.29 to $0.56 during the same time frame.
Equities research analysts are predicting that Dorman Products will post an EPS of 5.15 for the current year, which would indicate modest growth prospects for the company moving forward.
In summary, as one of the key players in the automotive aftermarket industry, Dorman Products continues to attract interest from institutional investors and hedge funds alike due to its potential for growth and profitability. While recent earnings fell short of expectations, experts remain cautiously optimistic about its future prospects. Investors interested in staying informed should keep track of financial filings and analyst ratings as they consider their investment options in DORM stock.
