Dorman Products, Inc. (NASDAQ:DORM) Short Interest Up 16.1% in November

Dorman Products, Inc. (NASDAQ:DORM) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 383,600 shares, a growth of 16.1% from the October 31st total of 330,400 shares. Based on an average daily trading volume, of 172,300 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.5% of the company’s stock are sold short.

Insiders Place Their Bets

In other Dorman Products 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 transaction, the director now directly owns 936,024 shares of the company’s stock, valued at $108,316,697.28. This represents a 2.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eric Luftig sold 3,278 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $141.19, for a total value of $462,820.82. Following the transaction, the senior vice president now owns 5,934 shares in the company, valued at $837,821.46. This represents a 35.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,988 shares of company stock worth $7,795,833 in the last quarter. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Dorman Products

A number of large investors have recently modified their holdings of the business. Tidal Investments LLC raised its holdings in Dorman Products by 5.0% in the third quarter. Tidal Investments LLC now owns 4,918 shares of the auto parts company’s stock worth $556,000 after purchasing an additional 234 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in Dorman Products during the third quarter valued at $29,000. Coldstream Capital Management Inc. purchased a new position in shares of Dorman Products during the 3rd quarter worth about $263,000. M&T Bank Corp increased its position in shares of Dorman Products by 22.1% during the third quarter. M&T Bank Corp now owns 31,300 shares of the auto parts company’s stock worth $3,541,000 after acquiring an additional 5,662 shares during the period. Finally, Barclays PLC boosted its stake in shares of Dorman Products by 380.7% during the third quarter. Barclays PLC now owns 46,842 shares of the auto parts company’s stock valued at $5,298,000 after purchasing an additional 37,098 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

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

Dorman Products Price Performance

Shares of NASDAQ DORM traded down $2.13 during mid-day trading on Tuesday, reaching $138.46. 106,809 shares of the company traded hands, compared to its average volume of 137,116. The stock has a fifty day simple moving average of $124.05 and a 200-day simple moving average of $108.46. The firm has a market cap of $4.23 billion, a PE ratio of 23.23 and a beta of 0.87. Dorman Products has a fifty-two week low of $74.09 and a fifty-two week high of $146.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.34 and a quick ratio of 1.16.

Dorman Products (NASDAQ:DORM) last posted its earnings results on Thursday, October 31st. The auto parts company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.43. The business had revenue of $503.77 million during the quarter, compared to analysts’ expectations of $509.54 million. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. Dorman Products’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 EPS. Equities research analysts anticipate that Dorman Products will post 6.9 EPS 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.