Franklin Resources Inc. Sells 7,563 Shares of Dorman Products, Inc. (NASDAQ:DORM)

Franklin Resources Inc. lowered its position in shares of Dorman Products, Inc. (NASDAQ:DORM - Free Report) by 15.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,857 shares of the auto parts company's stock after selling 7,563 shares during the period. Franklin Resources Inc. owned 0.13% of Dorman Products worth $4,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new stake in shares of Dorman Products during the third quarter worth $29,000. Farther Finance Advisors LLC increased its position in 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 worth $31,000 after acquiring an additional 273 shares during the period. Advisors Asset Management Inc. acquired a new stake in Dorman Products in the 3rd quarter worth about $31,000. Quest Partners LLC bought a new stake in Dorman Products in the 2nd quarter valued at about $37,000. Finally, Covestor Ltd boosted its holdings in Dorman Products by 781.4% in the 3rd quarter. Covestor Ltd now owns 379 shares of the auto parts company's stock valued at $43,000 after purchasing an additional 336 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DORM has been the topic of several recent research reports. Roth Mkm reaffirmed a "buy" rating and set a $153.00 target price (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 note on Friday, September 13th. They set an "outperform" rating and a $134.00 price objective on the stock. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $125.67.

Insider Activity at Dorman Products

In related news, Director Steven L. Berman sold 8,485 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $136.83, for a total transaction of $1,161,002.55. Following the sale, the director now owns 867,671 shares of the company's stock, valued at $118,723,422.93. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Mcknight sold 8,185 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $139.34, for a total value of $1,140,497.90. Following the completion of the transaction, the insider now owns 8,902 shares of the company's stock, valued at $1,240,404.68. This represents a 47.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,139 shares of company stock valued at $4,579,061 over the last ninety days. 10.00% of the stock is owned by corporate insiders.

Dorman Products Price Performance

Shares of NASDAQ:DORM traded up $1.61 during midday trading on Tuesday, hitting $132.48. The stock had a trading volume of 28,988 shares, compared to its average volume of 139,143. The company's 50-day moving average price is $131.63 and its 200-day moving average price is $113.52. Dorman Products, Inc. has a fifty-two week low of $79.20 and a fifty-two week high of $146.60. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $4.04 billion, a P/E ratio of 22.15 and a beta of 0.87.

Dorman Products (NASDAQ:DORM - Get Free Report) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $503.77 million during the quarter, compared to analysts' expectations of $509.54 million. During the same period in the prior year, the company earned $1.40 earnings per share. The company's quarterly revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts predict that Dorman Products, Inc. will post 6.9 EPS for the current fiscal year.

Dorman Products Company 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.