Dorman Products, Inc. (NASDAQ:DORM) Short Interest Up 57.7% in March

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 905,900 shares, an increase of 57.7% from the February 28th total of 574,400 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average trading volume of 196,100 shares, the short-interest ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Dorman Products from a “strong-buy” rating to a “buy” rating in a report on Friday, March 14th.

Insider Activity at Dorman Products

In other news, SVP Donna M. Long sold 742 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $130.38, for a total value of $96,741.96. Following the transaction, the senior vice president now owns 19,894 shares of the company’s stock, valued at $2,593,779.72. This represents a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven L. Berman sold 285 shares of Dorman Products stock in a transaction on Friday, January 10th. The stock was sold at an average price of $123.50, for a total value of $35,197.50. Following the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,842 shares of company stock worth $4,048,449 over the last 90 days. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DORM. Fuller & Thaler Asset Management Inc. bought a new stake in Dorman Products during the fourth quarter worth $42,495,000. Norges Bank acquired a new stake in Dorman Products in the 4th quarter valued at about $41,047,000. Oberweis Asset Management Inc. bought a new position in Dorman Products during the fourth quarter worth about $23,283,000. Wellington Management Group LLP increased its position in Dorman Products by 1,136.2% during the fourth quarter. Wellington Management Group LLP now owns 174,717 shares of the auto parts company’s stock worth $22,635,000 after buying an additional 160,584 shares during the last quarter. Finally, Cercano Management LLC bought a new stake in Dorman Products in the fourth quarter valued at approximately $16,328,000. Institutional investors own 84.70% of the company’s stock.

Dorman Products Stock Down 0.3 %

Shares of DORM stock traded down $0.42 during trading hours on Monday, hitting $120.30. 118,717 shares of the company were exchanged, compared to its average volume of 157,533. Dorman Products has a 52 week low of $86.61 and a 52 week high of $146.60. 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 business has a 50 day moving average of $127.87 and a two-hundred day moving average of $126.81. The company has a market capitalization of $3.68 billion, a PE ratio of 20.21 and a beta of 0.84.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Wednesday, February 26th. The auto parts company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.21. Dorman Products had a return on equity of 16.95% and a net margin of 9.43%. The business had revenue of $533.77 million for the quarter, compared to analyst estimates of $523.95 million. Analysts anticipate 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.