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

Dorman Products, Inc. (NASDAQ:DORM - Get Free Report) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 471,200 shares, a growth of 27.9% from the January 15th total of 368,500 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 184,300 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DORM shares. StockNews.com cut shares of Dorman Products from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 11th. Roth Mkm restated a "buy" rating and set a $153.00 price objective (up from $126.00) on shares of Dorman Products in a research report on Monday, November 4th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, Dorman Products presently has an average rating of "Buy" and a consensus target price of $125.67.

Insider Activity

In related news, SVP Eric Luftig sold 3,278 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $141.19, for a total transaction of $462,820.82. Following the sale, the senior vice president now directly owns 5,934 shares of the company's stock, valued at approximately $837,821.46. This represents a 35.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven L. Berman sold 9,238 shares of the 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 sale, the director now directly owns 788,688 shares in the company, valued at $104,682,558.24. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,811 shares of company stock valued at $7,082,504 in the last ninety days. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Dorman Products

A number of hedge funds have recently modified their holdings of DORM. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Dorman Products in the fourth quarter valued at about $42,495,000. Norges Bank acquired a new stake in Dorman Products during the fourth quarter worth about $41,047,000. Fiera Capital Corp acquired a new stake in Dorman Products during the third quarter worth about $25,571,000. Oberweis Asset Management Inc. acquired a new stake in Dorman Products during the fourth quarter worth about $23,283,000. Finally, 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 purchasing an additional 160,584 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Dorman Products Price Performance

Shares of NASDAQ DORM traded up $0.35 during mid-day trading on Thursday, reaching $126.49. The company's stock had a trading volume of 173,511 shares, compared to its average volume of 172,773. The stock has a 50-day moving average of $129.48 and a two-hundred day moving average of $123.27. The stock has a market capitalization of $3.86 billion, a P/E ratio of 21.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 2.34. Dorman Products has a 1-year low of $80.67 and a 1-year high of $146.60.

Dorman Products Company Profile

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.