Dorman Products, Inc. (NASDAQ:DORM) Short Interest Down 8.1% in October

by · The Cerbat Gem

Dorman Products, Inc. (NASDAQ:DORM – Get Free Report) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 330,400 shares, a decrease of 8.1% from the October 15th total of 359,400 shares. Based on an average daily volume of 160,500 shares, the short-interest ratio is presently 2.1 days. Approximately 1.3% of the shares of the stock are short sold.

Dorman Products Stock Performance

NASDAQ DORM traded down $0.72 during trading on Monday, reaching $134.01. The company’s stock had a trading volume of 162,270 shares, compared to its average volume of 136,740. The company has a current ratio of 2.34, a quick ratio of 1.16 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 22.41 and a beta of 0.83. Dorman Products has a 12 month low of $69.77 and a 12 month high of $146.60. The firm has a 50 day moving average price of $119.05 and a 200 day moving average price of $105.15.

Dorman Products (NASDAQ:DORM – Get Free Report) last released its quarterly earnings data 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 net margin of 9.43% and a return on equity of 16.95%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.40 EPS. As a group, equities analysts anticipate that Dorman Products will post 6.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven L. Berman sold 215 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.01, for a total value of $25,157.15. Following the completion of the transaction, the director now directly owns 881,298 shares in the company, valued at $103,120,678.98. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffery Darby sold 2,400 shares of Dorman Products stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $118.98, for a total value of $285,552.00. Following the completion of the sale, the senior vice president now directly owns 19,871 shares in the company, valued at $2,364,251.58. This represents a 10.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,833 shares of company stock worth $7,050,877. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On Dorman Products

A number of hedge funds have recently made changes to their positions in DORM. UniSuper Management Pty Ltd purchased a new position in Dorman Products during the 1st quarter valued at $608,000. Assenagon Asset Management S.A. increased its position in Dorman Products by 5.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 224,374 shares of the auto parts company’s stock valued at $20,526,000 after purchasing an additional 10,915 shares during the period. PEAK6 Investments LLC increased its position in Dorman Products by 69.7% during the 1st quarter. PEAK6 Investments LLC now owns 30,896 shares of the auto parts company’s stock valued at $2,978,000 after purchasing an additional 12,691 shares during the period. SG Americas Securities LLC increased its position in Dorman Products by 1,595.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,035 shares of the auto parts company’s stock valued at $1,924,000 after purchasing an additional 19,794 shares during the period. Finally, Raymond James & Associates increased its position in Dorman Products by 26.7% during the 3rd quarter. Raymond James & Associates now owns 34,867 shares of the auto parts company’s stock valued at $3,944,000 after purchasing an additional 7,349 shares during the period. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DORM has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and issued a $153.00 price target (up previously from $126.00) on shares of Dorman Products in a report on Monday, November 4th. CJS Securities assumed coverage on Dorman Products in a research report on Friday, September 13th. They issued 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, the company currently has an average rating of “Buy” and an average target price of $125.67.

Read Our Latest Stock Report on Dorman Products

About Dorman Products

(Get Free Report)

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.

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