Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 43.0%

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 631,300 shares, an increase of 43.0% from the November 30th total of 441,500 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 167,400 shares, the days-to-cover ratio is presently 3.8 days.

Insider Transactions at Dorman Products

In other news, Director Steven L. Berman sold 2,633 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $132.52, for a total transaction of $348,925.16. Following the transaction, the director now directly owns 833,812 shares in the company, valued at $110,496,766.24. This represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donna M. Long sold 3,277 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $134.79, for a total transaction of $441,706.83. Following the completion of the sale, the senior vice president now owns 20,126 shares of the company’s stock, valued at approximately $2,712,783.54. The trade was a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,593 shares of company stock worth $4,907,310 over the last ninety days. 10.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Dorman Products

Large investors have recently modified their holdings of the business. Equitable Trust Co. grew its stake in Dorman Products by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 4,494 shares of the auto parts company’s stock valued at $508,000 after purchasing an additional 97 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of Dorman Products by 1.3% in the second quarter. Inspire Advisors LLC now owns 8,679 shares of the auto parts company’s stock worth $794,000 after buying an additional 112 shares during the last quarter. Creative Planning increased its stake in shares of Dorman Products by 3.3% in the second quarter. Creative Planning now owns 4,499 shares of the auto parts company’s stock worth $412,000 after buying an additional 144 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Dorman Products by 28.3% in the third quarter. First Horizon Advisors Inc. now owns 662 shares of the auto parts company’s stock valued at $75,000 after acquiring an additional 146 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in Dorman Products by 7.1% during the 3rd quarter. Procyon Advisors LLC now owns 2,730 shares of the auto parts company’s stock valued at $309,000 after acquiring an additional 180 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Dorman Products Stock Down 0.7 %

Shares of DORM traded down $0.94 during midday trading on Monday, reaching $131.25. 151,677 shares of the company were exchanged, compared to its average volume of 138,515. Dorman Products has a 1-year low of $79.20 and a 1-year high of $146.60. The stock has a 50-day moving average price of $132.53 and a 200-day moving average price of $114.41. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 21.95 and a beta of 0.87.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.43. The company had revenue of $503.77 million during the quarter, compared to the consensus estimate of $509.54 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. Dorman Products’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.40 earnings per share. Research analysts expect that Dorman Products will post 6.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. CJS Securities initiated coverage on Dorman Products in a report on Friday, September 13th. They set an “outperform” rating and a $134.00 price objective for the company. Roth Mkm restated a “buy” rating and issued a $153.00 price objective (up from $126.00) on shares of Dorman Products in a report on Monday, November 4th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $125.67.

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.