Price T Rowe Associates Inc. MD Cuts Stake in Douglas Dynamics, Inc. (NYSE:PLOW)

Price T Rowe Associates Inc. MD lowered its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 30.7% in the fourth quarter, Holdings Channel reports. The firm owned 16,910 shares of the auto parts company’s stock after selling 7,507 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Douglas Dynamics were worth $400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Douglas Dynamics by 290.6% during the fourth quarter. Victory Capital Management Inc. now owns 29,300 shares of the auto parts company’s stock worth $692,000 after acquiring an additional 21,799 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Douglas Dynamics by 19.7% in the 4th quarter. Bank of New York Mellon Corp now owns 296,867 shares of the auto parts company’s stock valued at $7,015,000 after purchasing an additional 48,936 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Douglas Dynamics in the 4th quarter valued at about $412,000. Allspring Global Investments Holdings LLC boosted its holdings in Douglas Dynamics by 0.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,440,641 shares of the auto parts company’s stock valued at $57,819,000 after purchasing an additional 20,233 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in Douglas Dynamics by 3.3% in the 4th quarter. Pzena Investment Management LLC now owns 1,679,041 shares of the auto parts company’s stock valued at $39,676,000 after purchasing an additional 54,221 shares during the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.

Wall Street Analyst Weigh In

PLOW has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating and issued a $32.00 target price on shares of Douglas Dynamics in a report on Tuesday, February 25th. StockNews.com upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th.

Douglas Dynamics Stock Performance

Shares of PLOW stock opened at $29.13 on Thursday. The firm’s 50 day moving average price is $24.14 and its 200-day moving average price is $24.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.14. Douglas Dynamics, Inc. has a one year low of $21.30 and a one year high of $30.98. The firm has a market cap of $676.08 million, a P/E ratio of 12.67, a P/E/G ratio of 1.14 and a beta of 1.25.

Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings data on Monday, May 5th. The auto parts company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.25. The firm had revenue of $115.07 million for 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 for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.29) EPS. As a group, equities research analysts predict that Douglas Dynamics, Inc. will post 1.3 EPS for the current year.

Douglas Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.295 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.18 dividend on an annualized basis and a yield of 4.05%. Douglas Dynamics’s dividend payout ratio (DPR) is presently 43.38%.

Douglas Dynamics Company 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.