Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 57.7%

Dorman Products, Inc. (NASDAQ:DORM) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 905,900 shares, a growth of 57.7% from the February 28th total of 574,400 shares. Based on an average daily volume of 196,100 shares, the days-to-cover ratio is currently 4.6 days. Currently, 3.5% of the company’s stock are sold short.

Insider Buying and Selling

In other news, Director Steven L. Berman sold 617 shares of Dorman Products stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $123.23, for a total transaction of $76,032.91. Following the completion of the transaction, the director now directly owns 832,910 shares in the company, valued at approximately $102,639,499.30. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donna M. Long sold 742 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $130.38, for a total value of $96,741.96. Following the transaction, the senior vice president now directly owns 19,894 shares of the company’s stock, valued at approximately $2,593,779.72. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,842 shares of company stock valued at $4,048,449 over the last ninety days. Company insiders own 10.00% of the company’s stock.

Institutional Trading of Dorman Products

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in Dorman Products by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company’s stock worth $247,000 after purchasing an additional 79 shares during the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Dorman Products by 3.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,438 shares of the auto parts company’s stock worth $308,000 after acquiring an additional 83 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Dorman Products by 1.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,763 shares of the auto parts company’s stock valued at $617,000 after acquiring an additional 84 shares during the last quarter. Pitcairn Co. lifted its holdings in Dorman Products by 2.0% in the fourth quarter. Pitcairn Co. now owns 4,490 shares of the auto parts company’s stock valued at $582,000 after acquiring an additional 86 shares during the period. Finally, Summit Investment Advisors Inc. boosted its position in Dorman Products by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company’s stock worth $350,000 after purchasing an additional 87 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Friday, March 14th.

Dorman Products Stock Down 3.5 %

NASDAQ DORM traded down $4.44 during mid-day trading on Friday, reaching $120.71. The stock had a trading volume of 241,376 shares, compared to its average volume of 157,653. The stock has a market cap of $3.69 billion, a PE ratio of 20.19 and a beta of 0.84. Dorman Products has a 1 year low of $86.61 and a 1 year high of $146.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16. The company has a fifty day moving average price of $127.87 and a 200 day moving average price of $126.69.

Dorman Products (NASDAQ:DORM) last posted its quarterly earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.21. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The firm had revenue of $533.77 million during the quarter, compared to analysts’ expectations of $523.95 million. On average, research analysts expect 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.