Dorman Products, Inc. (NASDAQ:DORM) Sees Large Increase in Short Interest

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

Insider Buying and Selling at Dorman Products

In related news, Director Steven L. Berman sold 27,632 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $115.72, for a total transaction of $3,197,575.04. Following the completion of the sale, the director now owns 936,024 shares in the company, valued at $108,316,697.28. This represents a 2.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeffery Darby sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $124.98, for a total transaction of $299,952.00. Following the transaction, the senior vice president now owns 17,471 shares in the company, valued at $2,183,525.58. The trade was a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,988 shares of company stock valued at $7,795,833 over the last ninety days. Corporate insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Dorman Products

A number of large investors have recently added to or reduced their stakes in DORM. Price T Rowe Associates Inc. MD raised its holdings in shares of Dorman Products by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,724 shares of the auto parts company’s stock worth $1,805,000 after acquiring an additional 953 shares in the last quarter. Tidal Investments LLC purchased a new position in Dorman Products during the 1st quarter valued at about $328,000. SG Americas Securities LLC lifted its position in shares of Dorman Products by 1,595.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,035 shares of the auto parts company’s stock worth $1,924,000 after buying an additional 19,794 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Dorman Products by 5.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company’s stock valued at $20,526,000 after acquiring an additional 10,915 shares during the period. Finally, Leeward Investments LLC MA grew its stake in shares of Dorman Products by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 140,036 shares of the auto parts company’s stock worth $12,810,000 after purchasing an additional 7,437 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DORM. Roth Mkm restated a “buy” rating and issued a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. CJS Securities started coverage on Dorman Products in a research note on Friday, September 13th. They set an “outperform” rating and a $134.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Dorman Products presently has a consensus rating of “Buy” and an average target price of $125.67.

Dorman Products Stock Performance

DORM stock traded down $2.13 during trading on Tuesday, reaching $138.46. 106,809 shares of the stock were exchanged, compared to its average volume of 137,116. The stock has a 50 day simple moving average of $124.05 and a 200-day simple moving average of $108.46. The company has a market capitalization of $4.23 billion, a P/E ratio of 23.23 and a beta of 0.87. Dorman Products has a twelve month low of $74.09 and a twelve month high of $146.60. 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. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. The business had revenue of $503.77 million during the quarter, compared to analysts’ expectations of $509.54 million. During the same quarter in the prior year, the business posted $1.40 earnings per share. Dorman Products’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dorman Products will post 6.9 earnings per share for the current 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.