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

Dorman Products, Inc. (NASDAQ:DORM) was the recipient of a large growth in short interest during the month of 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. Currently, 3.5% of the company’s shares are sold short. Based on an average daily trading volume, of 196,100 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Dorman Products

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

Hedge Funds Weigh In On Dorman Products

A number of hedge funds and other institutional investors have recently made changes to their positions in DORM. Westside Investment Management Inc. acquired a new position in Dorman Products in the third quarter valued at approximately $29,000. Jones Financial Companies Lllp lifted its holdings in shares of Dorman Products by 518.4% in the fourth quarter. Jones Financial Companies Lllp now owns 235 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 197 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Dorman Products in the 3rd quarter worth $31,000. Quent Capital LLC bought a new stake in Dorman Products in the 4th quarter worth about $31,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Dorman Products by 163.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 277 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 172 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Dorman Products Stock Down 3.5 %

Shares of NASDAQ:DORM traded down $4.44 during trading on Friday, hitting $120.71. 241,376 shares of the company were exchanged, compared to its average volume of 157,653. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 20.19 and a beta of 0.84. The firm has a fifty day moving average price of $127.87 and a two-hundred day moving average price of $126.69. Dorman Products has a fifty-two week low of $86.61 and a fifty-two week 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 announced its quarterly earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.21. The company had revenue of $533.77 million for the quarter, compared to analyst estimates of $523.95 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. As a group, research analysts anticipate that Dorman Products will post 6.9 earnings per share 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.