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 in 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. Based on an average daily trading volume, of 196,100 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Dorman Products Price Performance

NASDAQ:DORM traded down $4.44 during trading hours on Friday, reaching $120.71. The stock had a trading volume of 241,376 shares, compared to its average volume of 157,653. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. The stock has a market capitalization of $3.69 billion, a PE ratio of 20.19 and a beta of 0.84. Dorman Products has a 52 week low of $86.61 and a 52 week high of $146.60. The company has a 50 day moving average price of $127.87 and a two-hundred day moving average price of $126.69.

Dorman Products (NASDAQ:DORM) last announced its quarterly earnings results on Wednesday, February 26th. The auto parts company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.21. The firm had revenue of $533.77 million during the quarter, compared to the consensus estimate of $523.95 million. Dorman Products had a net margin of 9.43% and a return on equity of 16.95%. As a group, sell-side analysts anticipate that Dorman Products will post 6.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Donna M. Long sold 742 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 19,894 shares in the company, valued at $2,593,779.72. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven L. Berman sold 9,238 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $132.73, for a total transaction of $1,226,159.74. Following the completion of the transaction, the director now directly owns 788,688 shares of the company’s stock, valued at $104,682,558.24. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,842 shares of company stock worth $4,048,449 over the last quarter. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in shares of Dorman Products by 4.3% in the 4th quarter. Captrust Financial Advisors now owns 1,903 shares of the auto parts company’s stock worth $247,000 after acquiring an additional 79 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Dorman Products by 3.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,438 shares of the auto parts company’s stock worth $308,000 after purchasing an additional 83 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Dorman Products by 1.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,763 shares of the auto parts company’s stock valued at $617,000 after buying an additional 84 shares during the last quarter. Pitcairn Co. raised its holdings in shares of Dorman Products by 2.0% in the fourth quarter. Pitcairn Co. now owns 4,490 shares of the auto parts company’s stock worth $582,000 after buying an additional 86 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Dorman Products by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,705 shares of the auto parts company’s stock worth $350,000 after acquiring an additional 87 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

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.