Wedge Capital Management L L P NC Reduces Stock Position in Douglas Dynamics, Inc. (NYSE:PLOW)

Wedge Capital Management L L P NC lowered its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 32.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,975 shares of the auto parts company’s stock after selling 39,362 shares during the period. Wedge Capital Management L L P NC owned 0.35% of Douglas Dynamics worth $1,904,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLOW. US Bancorp DE raised its position in shares of Douglas Dynamics by 15.6% in the fourth quarter. US Bancorp DE now owns 3,052 shares of the auto parts company’s stock worth $72,000 after buying an additional 413 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Douglas Dynamics in the fourth quarter worth $111,000. State of Wyoming purchased a new stake in shares of Douglas Dynamics in the fourth quarter worth $153,000. Aquatic Capital Management LLC increased its stake in Douglas Dynamics by 358.9% in the fourth quarter. Aquatic Capital Management LLC now owns 7,802 shares of the auto parts company’s stock valued at $184,000 after acquiring an additional 6,102 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Douglas Dynamics in the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen raised Douglas Dynamics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. DA Davidson reissued a “buy” rating and issued a $32.00 target price on shares of Douglas Dynamics in a research note on Tuesday, February 25th.

Insiders Place Their Bets

In other Douglas Dynamics news, Director James L. Janik sold 15,650 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $29.01, for a total value of $454,006.50. Following the sale, the director now owns 40,136 shares in the company, valued at $1,164,345.36. The trade was a 28.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Douglas Dynamics Stock Performance

Shares of PLOW opened at $28.90 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.14 and a quick ratio of 1.13. Douglas Dynamics, Inc. has a one year low of $21.30 and a one year high of $30.98. The company has a 50-day simple moving average of $25.62 and a two-hundred day simple moving average of $25.19. The firm has a market capitalization of $670.74 million, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.14 and a beta of 1.29.

Douglas Dynamics (NYSE:PLOW) last released its earnings results on Monday, May 5th. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.25. The firm had revenue of $115.07 million during the quarter, compared to analyst estimates of $107.80 million. Douglas Dynamics had a net margin of 9.89% and a return on equity of 12.68%. The business’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the business earned ($0.29) earnings per share. On average, analysts anticipate that Douglas Dynamics, Inc. will post 1.3 EPS for the current fiscal year.

Douglas Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Tuesday, June 17th. Douglas Dynamics’s dividend payout ratio (DPR) is 43.38%.

Douglas Dynamics Profile

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light trucks and heavy duty trucks, as well as various related parts and accessories.