Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 16.1%

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 383,600 shares, a growth of 16.1% from the October 31st total of 330,400 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average trading volume of 172,300 shares, the days-to-cover ratio is presently 2.2 days.

Insider Buying and Selling

In other news, Director Steven L. Berman sold 2,669 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $112.57, for a total transaction of $300,449.33. Following the sale, the director now directly owns 876,156 shares in the company, valued at approximately $98,628,880.92. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eric Luftig sold 3,278 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $141.19, for a total value of $462,820.82. Following the completion of the transaction, the senior vice president now directly owns 5,934 shares of the company’s stock, valued at approximately $837,821.46. This trade represents a 35.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,988 shares of company stock valued at $7,795,833. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dorman Products

Institutional investors and hedge funds have recently bought and sold shares of the business. Fiera Capital Corp bought a new stake in shares of Dorman Products during the third quarter valued at approximately $25,571,000. State Street Corp lifted its holdings in Dorman Products by 8.6% during the 3rd quarter. State Street Corp now owns 1,108,327 shares of the auto parts company’s stock worth $125,374,000 after buying an additional 87,780 shares in the last quarter. Royce & Associates LP boosted its position in Dorman Products by 17.6% in the 3rd quarter. Royce & Associates LP now owns 523,882 shares of the auto parts company’s stock valued at $59,262,000 after buying an additional 78,496 shares during the last quarter. Jennison Associates LLC boosted its position in Dorman Products by 13.9% in the 3rd quarter. Jennison Associates LLC now owns 454,852 shares of the auto parts company’s stock valued at $51,453,000 after buying an additional 55,615 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of Dorman Products by 33.1% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 153,688 shares of the auto parts company’s stock valued at $17,385,000 after buying an additional 38,188 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Ratings Changes

DORM has been the subject of several recent research reports. CJS Securities assumed coverage on shares of Dorman Products in a research report on Friday, September 13th. They issued an “outperform” rating and a $134.00 price target for the company. Roth Mkm reissued a “buy” rating and issued a $153.00 target price (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Dorman Products has a consensus rating of “Buy” and a consensus target price of $125.67.

Dorman Products Price Performance

Shares of Dorman Products stock traded down $2.13 during mid-day trading on Tuesday, reaching $138.46. 106,809 shares of the stock were exchanged, compared to its average volume of 137,116. Dorman Products has a fifty-two week low of $74.09 and a fifty-two week high of $146.60. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 23.15 and a beta of 0.87. The firm has a 50-day simple moving average of $124.51 and a 200 day simple moving average of $108.80. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings data 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. The company had revenue of $503.77 million during the quarter, compared to analyst estimates of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. On average, sell-side analysts predict that Dorman Products 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.