Dorman Products, Inc. (NASDAQ:DORM) Sees Significant Decrease in Short Interest

Dorman Products, Inc. (NASDAQ:DORM) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 330,400 shares, a drop of 8.1% from the October 15th total of 359,400 shares. Based on an average trading volume of 160,500 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.3% of the company’s stock are short sold.

Insider Activity

In related news, SVP Jeffery Darby sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $113.98, for a total value of $159,572.00. Following the transaction, the senior vice president now directly owns 22,271 shares of the company’s stock, valued at approximately $2,538,448.58. This represents a 5.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $25,157.15. Following the sale, the director now owns 881,298 shares in the company, valued at approximately $103,120,678.98. This represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,833 shares of company stock worth $7,050,877 over the last three months. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dorman Products

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in shares of Dorman Products by 5,460.0% in the third quarter. Farther Finance Advisors LLC now owns 278 shares of the auto parts company’s stock worth $31,000 after buying an additional 273 shares during the period. Advisors Asset Management Inc. bought a new stake in Dorman Products during the 3rd quarter worth approximately $31,000. Quest Partners LLC purchased a new position in Dorman Products during the second quarter valued at approximately $37,000. Covestor Ltd boosted its position in shares of Dorman Products by 781.4% in the third quarter. Covestor Ltd now owns 379 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 336 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Dorman Products by 63.2% in the third quarter. GAMMA Investing LLC now owns 483 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 187 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DORM has been the topic of a number of recent analyst reports. Roth Mkm reaffirmed 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. CJS Securities initiated coverage on shares of Dorman Products in a research report on Friday, September 13th. They set an “outperform” rating and a $134.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $125.67.

Dorman Products Stock Performance

Shares of Dorman Products stock traded down $0.72 during trading hours on Monday, reaching $134.01. 162,270 shares of the stock traded hands, compared to its average volume of 136,740. Dorman Products has a one year low of $69.77 and a one year high of $146.60. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 22.41 and a beta of 0.83. The company has a quick ratio of 1.16, a current ratio of 2.34 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $119.05 and a 200 day moving average price of $105.15.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Thursday, October 31st. The auto parts company reported $1.96 EPS for the quarter, beating 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 net margin of 9.43% and a return on equity of 16.95%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. On average, equities research analysts expect that Dorman Products will post 6.9 earnings per share for the current fiscal year.

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.