Douglas Dynamics, Inc. (PLOW) Stake Lessened by Prudential Financial Inc.
Prudential Financial Inc. trimmed its holdings in Douglas Dynamics, Inc. (NYSE:PLOW) by 64.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,492 shares of the auto parts company’s stock after selling 70,860 shares during the quarter. Prudential Financial Inc. owned about 0.17% of Douglas Dynamics worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Atria Investments LLC boosted its position in shares of Douglas Dynamics by 1.5% during the 2nd quarter. Atria Investments LLC now owns 7,677 shares of the auto parts company’s stock valued at $253,000 after purchasing an additional 112 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Douglas Dynamics by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 16,323 shares of the auto parts company’s stock worth $500,000 after purchasing an additional 255 shares during the period. ClariVest Asset Management LLC grew its stake in Douglas Dynamics by 5.3% during the first quarter. ClariVest Asset Management LLC now owns 6,060 shares of the auto parts company’s stock worth $185,000 after purchasing an additional 303 shares during the period. Victory Capital Management Inc. grew its stake in Douglas Dynamics by 6.4% during the first quarter. Victory Capital Management Inc. now owns 12,824 shares of the auto parts company’s stock worth $393,000 after purchasing an additional 767 shares during the period. Finally, American International Group Inc. grew its stake in Douglas Dynamics by 7.1% during the first quarter. American International Group Inc. now owns 13,622 shares of the auto parts company’s stock worth $418,000 after purchasing an additional 900 shares during the period. 89.31% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on PLOW. Zacks Investment Research upgraded Douglas Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub upgraded Douglas Dynamics from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. dropped coverage on Douglas Dynamics in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $40.00.
Shares of Douglas Dynamics, Inc. (NYSE:PLOW) opened at 40.95 on Wednesday. The firm has a 50-day moving average of $36.25 and a 200-day moving average of $32.43. The firm has a market capitalization of $925.06 million, a PE ratio of 32.50 and a beta of 1.13. Douglas Dynamics, Inc. has a 12-month low of $25.23 and a 12-month high of $41.20.
Douglas Dynamics (NYSE:PLOW) last announced its earnings results on Monday, August 7th. The auto parts company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.11. Douglas Dynamics had a return on equity of 14.96% and a net margin of 6.16%. The company had revenue of $139.40 million during the quarter, compared to the consensus estimate of $132.33 million. During the same quarter in the prior year, the company earned $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 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.34%. The ex-dividend date was Monday, September 18th. Douglas Dynamics’s dividend payout ratio (DPR) is currently 76.19%.
In other Douglas Dynamics news, Chairman James L. Janik sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.03, for a total value of $700,600.00. Following the completion of the sale, the chairman now directly owns 322,790 shares in the company, valued at $11,307,333.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah C. Lauber acquired 1,250 shares of the stock in a transaction on Thursday, September 14th. The stock was bought at an average price of $36.04 per share, with a total value of $45,050.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,250 shares of the company’s stock, valued at $45,050. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.
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Douglas Dynamics Profile
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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