Franklin Resources Inc. lowered its stake in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,857 shares of the auto parts company's stock after selling 7,563 shares during the quarter. Franklin Resources Inc. owned about 0.13% of Dorman Products worth $4,738,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of DORM. Westside Investment Management Inc. acquired a new position in Dorman Products during the 3rd quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its holdings in shares of Dorman Products by 5,460.0% during the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company's stock valued at $31,000 after buying an additional 273 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Dorman Products in the 3rd quarter valued at $31,000. Quest Partners LLC purchased a new position in Dorman Products in the 2nd quarter worth $37,000. Finally, Covestor Ltd raised its stake in Dorman Products by 781.4% in the 3rd quarter. Covestor Ltd now owns 379 shares of the auto parts company's stock worth $43,000 after acquiring an additional 336 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.
NASDAQ DORM opened at $130.87 on Tuesday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 21.88 and a beta of 0.87. The stock has a 50-day simple moving average of $131.31 and a two-hundred day simple moving average of $113.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. Dorman Products, Inc. has a fifty-two week low of $79.20 and a fifty-two week high of $146.60.
Dorman Products (NASDAQ:DORM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.43. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The company had revenue of $503.77 million during the quarter, compared to analysts' expectations of $509.54 million. During the same period last year, the business earned $1.40 earnings per share. Dorman Products's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Dorman Products, Inc. will post 6.9 earnings per share for the current year.
A number of research analysts have recently weighed in on DORM shares. Roth Mkm reissued a "buy" rating and issued a $153.00 price objective (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. CJS Securities began coverage on Dorman Products in a research report on Friday, September 13th. They issued an "outperform" rating and a $134.00 target price on the stock. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $125.67.
Check Out Our Latest Stock Report on DORM
In other news, SVP Donna M. Long sold 3,277 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $134.79, for a total transaction of $441,706.83. Following the completion of the transaction, the senior vice president now directly owns 20,126 shares of the company's stock, valued at $2,712,783.54. This represents a 14.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eric Luftig sold 3,278 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $141.19, for a total value of $462,820.82. Following the transaction, the senior vice president now owns 5,934 shares in the company, valued at $837,821.46. This trade represents a 35.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,139 shares of company stock worth $4,579,061 in the last three months. Company insiders own 10.00% of the company's stock.
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.
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