Franklin Resources Inc. Trims Stake in Dorman Products, Inc. $DORM

Franklin Resources Inc. lowered its holdings in Dorman Products, Inc. (NASDAQ:DORM) by 54.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,888 shares of the auto parts company’s stock after selling 21,783 shares during the period. Franklin Resources Inc.’s holdings in Dorman Products were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Invesco Ltd. increased its position in shares of Dorman Products by 22.1% in the first quarter. Invesco Ltd. now owns 760,774 shares of the auto parts company’s stock worth $91,704,000 after purchasing an additional 137,913 shares during the last quarter. Jennison Associates LLC raised its position in shares of Dorman Products by 24.3% during the 2nd quarter. Jennison Associates LLC now owns 744,400 shares of the auto parts company’s stock valued at $91,316,000 after buying an additional 145,758 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dorman Products by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 677,100 shares of the auto parts company’s stock worth $83,070,000 after acquiring an additional 25,286 shares during the last quarter. Wellington Management Group LLP grew its position in Dorman Products by 192.9% in the first quarter. Wellington Management Group LLP now owns 511,791 shares of the auto parts company’s stock worth $61,691,000 after acquiring an additional 337,074 shares in the last quarter. Finally, Geneva Capital Management LLC increased its stake in Dorman Products by 5.9% in the second quarter. Geneva Capital Management LLC now owns 455,971 shares of the auto parts company’s stock valued at $55,934,000 after acquiring an additional 25,242 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stephens began coverage on Dorman Products in a research note on Tuesday, September 30th. They set an “overweight” rating and a $185.00 price target for the company. Wells Fargo & Company initiated coverage on Dorman Products in a research note on Friday, August 22nd. They issued an “overweight” rating and a $175.00 target price for the company. BMO Capital Markets initiated coverage on shares of Dorman Products in a research note on Thursday, September 18th. They set an “outperform” rating and a $180.00 price target on the stock. Roth Capital boosted their price objective on shares of Dorman Products to $182.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorman Products in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $180.50.

Dorman Products Stock Performance

NASDAQ:DORM opened at $128.90 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.19 and a current ratio of 2.94. Dorman Products, Inc. has a fifty-two week low of $106.95 and a fifty-two week high of $166.89. The firm has a market cap of $3.94 billion, a PE ratio of 16.05 and a beta of 0.88. The business has a 50 day moving average price of $139.86 and a 200-day moving average price of $138.10.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Monday, October 27th. The auto parts company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.31. The company had revenue of $543.74 million during the quarter, compared to analyst estimates of $548.60 million. Dorman Products had a net margin of 11.62% and a return on equity of 19.85%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 EPS. Dorman Products has set its FY 2025 guidance at 8.600-8.900 EPS. Equities research analysts predict that Dorman Products, Inc. will post 6.9 earnings per share for the current year.

Insider Buying and Selling at Dorman Products

In related news, CAO Gregory C. Bowen sold 1,453 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $162.81, for a total value of $236,562.93. Following the sale, the chief accounting officer directly owned 4,659 shares of the company’s stock, valued at $758,531.79. This trade represents a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.90% of the company’s stock.

About Dorman Products

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.