Dorman Products, Inc. (NASDAQ:DORM) Sees Large Growth in Short Interest

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant 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 shares of the company are sold short. Based on an average trading volume of 196,100 shares, the short-interest ratio is currently 4.6 days.

Insider Transactions at Dorman Products

In other Dorman Products news, Director Steven L. Berman sold 285 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $123.50, for a total transaction of $35,197.50. Following the transaction, the director now owns 833,527 shares of the company’s stock, valued at approximately $102,940,584.50. This trade represents a 0.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $96,741.96. Following the transaction, the senior vice president now owns 19,894 shares in the company, valued at $2,593,779.72. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,842 shares of company stock worth $4,048,449. Insiders own 10.00% of the company’s stock.

Institutional Trading of Dorman Products

A number of institutional investors and hedge funds have recently made changes to their positions in DORM. Flagship Harbor Advisors LLC acquired a new stake in shares of Dorman Products in the fourth quarter valued at about $287,000. Charles Schwab Investment Management Inc. boosted its position in shares of Dorman Products by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,717 shares of the auto parts company’s stock valued at $45,954,000 after acquiring an additional 4,102 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Dorman Products in the 4th quarter worth approximately $387,000. HighTower Advisors LLC grew its position in Dorman Products by 431.9% in the third quarter. HighTower Advisors LLC now owns 13,850 shares of the auto parts company’s stock valued at $1,563,000 after acquiring an additional 11,246 shares during the period. Finally, Ruffer LLP bought a new stake in shares of Dorman Products in the 4th quarter worth about $4,314,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Dorman Products Stock Down 3.5 %

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

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 analysts’ consensus estimates of $1.99 by $0.21. The company had revenue of $533.77 million during the quarter, compared to the consensus estimate of $523.95 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. As a group, analysts forecast that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Dorman Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 14th.

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.