Short Interest in Dorman Products, Inc. (NASDAQ:DORM) Increases By 5.7%

Dorman Products, Inc. (NASDAQ:DORM) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 359,400 shares, an increase of 5.7% from the September 30th total of 340,100 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 146,200 shares, the days-to-cover ratio is presently 2.5 days.

Dorman Products Price Performance

Dorman Products stock opened at $115.75 on Thursday. Dorman Products has a 52 week low of $60.01 and a 52 week high of $119.28. The company’s 50 day moving average price is $113.02 and its two-hundred day moving average price is $100.86. The company has a quick ratio of 1.19, a current ratio of 2.40 and a debt-to-equity ratio of 0.38. The stock has a market cap of $3.54 billion, a P/E ratio of 21.20 and a beta of 0.82.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Thursday, August 1st. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.48. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The company had revenue of $502.95 million during the quarter, compared to analyst estimates of $497.46 million. During the same quarter last year, the business posted $1.01 EPS. Dorman Products’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Dorman Products will post 6.15 earnings per share for the current year.

Analyst Ratings Changes

Separately, CJS Securities began coverage on shares of Dorman Products in a research note on Friday, September 13th. They set an “outperform” rating and a $134.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Dorman Products has an average rating of “Buy” and a consensus target price of $113.33.

Insider Transactions at Dorman Products

In other news, Director Steven L. Berman sold 27,632 shares of the stock in a transaction on Monday, September 16th. The shares were 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 directly owns 936,024 shares in the company, valued at $108,316,697.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Steven L. Berman sold 215 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $117.01, for a total transaction of $25,157.15. Following the transaction, the director now directly owns 881,298 shares of the company’s stock, valued at $103,120,678.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven L. Berman sold 27,632 shares of the stock in a transaction 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 transaction, the director now directly owns 936,024 shares in the company, valued at approximately $108,316,697.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,297 shares of company stock worth $6,163,491 over the last three months. 10.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dorman Products

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Dorman Products by 5,460.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 273 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Dorman Products during the 2nd quarter worth approximately $37,000. GAMMA Investing LLC increased its stake in shares of Dorman Products by 63.2% during the 3rd quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 187 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Dorman Products during the 3rd quarter worth approximately $58,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Dorman Products during the 2nd quarter worth approximately $66,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.