State Board of Administration of Florida Retirement System reduced its stake in Douglas Dynamics Inc. (NYSE:PLOW) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,133 shares of the company’s stock after selling 2,406 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of Douglas Dynamics worth $467,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Wealthsource Partners LLC bought a new position in shares of Douglas Dynamics during the first quarter worth about $234,000. Aperio Group LLC bought a new position in shares of Douglas Dynamics during the first quarter worth about $267,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Douglas Dynamics by 4.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 15,137 shares of the company’s stock worth $347,000 after buying an additional 630 shares during the last quarter. Ngam Advisors L.P. boosted its position in shares of Douglas Dynamics by 11.3% in the first quarter. Ngam Advisors L.P. now owns 16,525 shares of the company’s stock worth $379,000 after buying an additional 1,683 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Douglas Dynamics by 4.3% in the first quarter. Royal Bank of Canada now owns 17,700 shares of the company’s stock worth $406,000 after buying an additional 728 shares during the last quarter. Institutional investors and hedge funds own 85.68% of the company’s stock.
Douglas Dynamics Inc. (NYSE:PLOW) traded down 1.08% on Friday, hitting $31.91. The company had a trading volume of 56,850 shares. The firm has a market capitalization of $718.01 million, a PE ratio of 13.95 and a beta of 1.22. Douglas Dynamics Inc. has a 12-month low of $16.89 and a 12-month high of $32.80. The firm has a 50-day moving average price of $31.85 and a 200-day moving average price of $26.23.
Douglas Dynamics (NYSE:PLOW) last posted its earnings results on Monday, August 1st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.26. The business had revenue of $113.80 million for the quarter, compared to analyst estimates of $96.87 million. Douglas Dynamics had a return on equity of 22.47% and a net margin of 12.84%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. On average, equities research analysts anticipate that Douglas Dynamics Inc. will post $1.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, September 16th. Douglas Dynamics’s payout ratio is presently 41.23%.
PLOW has been the subject of a number of analyst reports. Zacks Investment Research cut Douglas Dynamics from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Seaport Global Securities cut Douglas Dynamics from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a report on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.33.
About Douglas Dynamics
Douglas Dynamics, Inc is a manufacturer of vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, SNOWEX and WESTERN brands; turf care equipment under the TURFEX brand, and industrial maintenance equipment under the SWEEPEX brand.
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