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

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

Dorman Products Stock Performance

Shares of Dorman Products stock opened at $115.75 on Thursday. The company has a 50 day moving average of $113.02 and a 200-day moving average of $100.86. Dorman Products has a 1-year low of $60.01 and a 1-year high of $119.28. The company has a current ratio of 2.40, a quick ratio of 1.19 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.54 billion, a PE 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 for the quarter, topping analysts’ consensus estimates of $1.19 by $0.48. The company had revenue of $502.95 million during the quarter, compared to the consensus estimate of $497.46 million. Dorman Products had a net margin of 8.75% and a return on equity of 15.97%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, equities research analysts forecast that Dorman Products will post 6.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, CJS Securities began coverage on shares of Dorman Products in a report on Friday, September 13th. They set an “outperform” rating and a $134.00 price target for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $113.33.

Insider Buying and Selling

In other Dorman Products news, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total value of $146,972.00. Following the completion of the sale, the senior vice president now owns 23,671 shares of the company’s stock, valued at $2,484,981.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Dorman Products news, Director Steven L. Berman sold 27,632 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $115.72, for a total value of $3,197,575.04. Following the completion of the sale, the director now owns 936,024 shares of the company’s stock, valued at $108,316,697.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeffery Darby sold 1,400 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $104.98, for a total transaction of $146,972.00. Following the completion of the sale, the senior vice president now directly owns 23,671 shares of the company’s stock, valued at $2,484,981.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,297 shares of company stock valued at $6,163,491. Company insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Dorman Products

A number of institutional investors have recently added to or reduced their stakes in DORM. Jennison Associates LLC increased its position in Dorman Products by 73.1% during the 1st quarter. Jennison Associates LLC now owns 283,387 shares of the auto parts company’s stock worth $27,316,000 after purchasing an additional 119,707 shares in the last quarter. Nordea Investment Management AB acquired a new position in Dorman Products during the 1st quarter worth approximately $10,907,000. Vanguard Group Inc. increased its position in Dorman Products by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,032,285 shares of the auto parts company’s stock worth $292,282,000 after purchasing an additional 41,849 shares in the last quarter. Algert Global LLC increased its position in Dorman Products by 404.4% in the 2nd quarter. Algert Global LLC now owns 39,149 shares of the auto parts company’s stock valued at $3,581,000 after acquiring an additional 31,387 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Dorman Products in the 2nd quarter valued at approximately $2,807,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.