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

Dorman Products, Inc. (NASDAQ:DORM) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 293,700 shares, an increase of 5.4% from the May 31st total of 278,600 shares. Based on an average daily trading volume, of 113,700 shares, the short-interest ratio is currently 2.6 days. Currently, 1.1% of the company’s shares are short sold.

Dorman Products Trading Up 0.1 %

Shares of Dorman Products stock opened at $90.27 on Thursday. Dorman Products has a 12-month low of $60.01 and a 12-month high of $98.55. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 18.16 and a beta of 0.82. The company has a fifty day simple moving average of $91.20 and a 200-day simple moving average of $88.50.

Dorman Products (NASDAQ:DORM) last announced its earnings results on Tuesday, May 7th. The auto parts company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.49. The business had revenue of $468.70 million for the quarter, compared to analyst estimates of $472.35 million. Dorman Products had a net margin of 8.10% and a return on equity of 14.61%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, equities analysts forecast that Dorman Products will post 5.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on DORM shares. TheStreet raised Dorman Products from a “c+” rating to a “b” rating in a research note on Wednesday, March 20th. StockNews.com upgraded shares of Dorman Products from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $116.00 price objective on shares of Dorman Products in a research report on Friday, June 14th.

Insider Transactions at Dorman Products

In other Dorman Products news, SVP Donna M. Long sold 500 shares of Dorman Products stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $92.06, for a total value of $46,030.00. Following the completion of the transaction, the senior vice president now directly owns 20,126 shares of the company’s stock, valued at approximately $1,852,799.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DORM. Mariner LLC boosted its holdings in shares of Dorman Products by 2.2% in the third quarter. Mariner LLC now owns 8,689 shares of the auto parts company’s stock valued at $658,000 after acquiring an additional 189 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Dorman Products by 26.5% in the third quarter. Glenmede Trust Co. NA now owns 3,331 shares of the auto parts company’s stock valued at $252,000 after buying an additional 697 shares in the last quarter. Bridge City Capital LLC grew its holdings in Dorman Products by 21.3% during the third quarter. Bridge City Capital LLC now owns 26,971 shares of the auto parts company’s stock worth $2,043,000 after acquiring an additional 4,740 shares during the period. OLD National Bancorp IN raised its position in Dorman Products by 18.6% in the third quarter. OLD National Bancorp IN now owns 3,743 shares of the auto parts company’s stock worth $284,000 after acquiring an additional 586 shares in the last quarter. Finally, Headinvest LLC acquired a new stake in Dorman Products in the third quarter valued at $30,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.