Douglas Dynamics, Inc. (PLOW) Position Cut by Cadence Capital Management LLC
Cadence Capital Management LLC decreased its position in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 37.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,120 shares of the auto parts company’s stock after selling 11,612 shares during the period. Cadence Capital Management LLC owned approximately 0.08% of Douglas Dynamics worth $629,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of PLOW. William Blair Investment Management LLC raised its position in shares of Douglas Dynamics by 75.7% in the second quarter. William Blair Investment Management LLC now owns 347,427 shares of the auto parts company’s stock worth $11,430,000 after buying an additional 149,711 shares during the last quarter. Blair William & Co. IL raised its position in shares of Douglas Dynamics by 317.3% in the second quarter. Blair William & Co. IL now owns 37,400 shares of the auto parts company’s stock worth $1,230,000 after buying an additional 28,437 shares during the last quarter. Bernzott Capital Advisors raised its position in shares of Douglas Dynamics by 5.2% in the second quarter. Bernzott Capital Advisors now owns 858,629 shares of the auto parts company’s stock worth $28,249,000 after buying an additional 42,650 shares during the last quarter. Teton Advisors Inc. bought a new position in shares of Douglas Dynamics during the second quarter worth about $352,000. Finally, Bank of New York Mellon Corp raised its position in shares of Douglas Dynamics by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 353,863 shares of the auto parts company’s stock worth $11,643,000 after buying an additional 15,566 shares during the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.
Shares of Douglas Dynamics, Inc. (NYSE:PLOW) opened at 35.05 on Wednesday. The firm has a market cap of $791.78 million, a price-to-earnings ratio of 27.82 and a beta of 1.14. Douglas Dynamics, Inc. has a 1-year low of $25.23 and a 1-year high of $37.50. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $31.63.
Douglas Dynamics (NYSE:PLOW) last announced its quarterly earnings data on Monday, August 7th. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.11. Douglas Dynamics had a return on equity of 14.96% and a net margin of 6.16%. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $132.33 million. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. Equities analysts anticipate that Douglas Dynamics, Inc. will post $1.50 EPS for the current fiscal year.
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A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Douglas Dynamics from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Saturday, August 12th. Finally, Oppenheimer Holdings, Inc. dropped coverage on shares of Douglas Dynamics in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.00.
About Douglas Dynamics
Douglas Dynamics, Inc is a manufacturer and up-fitter of commercial vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, HENDERSON, SNOWEX and WESTERN brands, turf care equipment under the TURFEX brand and industrial maintenance equipment under the SWEEPEX brand.
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