Douglas Dynamics, Inc. (NYSE:PLOW) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its holdings in Douglas Dynamics, Inc. (NYSE:PLOW) by 32.4% during the first quarter, Holdings Channel reports. The fund owned 81,975 shares of the auto parts company’s stock after selling 39,362 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Douglas Dynamics were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Douglas Dynamics by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,440,641 shares of the auto parts company’s stock worth $57,819,000 after acquiring an additional 20,233 shares during the period. Pzena Investment Management LLC increased its stake in shares of Douglas Dynamics by 3.3% in the fourth quarter. Pzena Investment Management LLC now owns 1,679,041 shares of the auto parts company’s stock worth $39,676,000 after acquiring an additional 54,221 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Douglas Dynamics by 4.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 954,671 shares of the auto parts company’s stock worth $22,559,000 after acquiring an additional 44,063 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Douglas Dynamics by 18.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 909,283 shares of the auto parts company’s stock worth $21,487,000 after acquiring an additional 143,853 shares during the period. Finally, Ararat Capital Management LP grew its position in Douglas Dynamics by 40.6% during the fourth quarter. Ararat Capital Management LP now owns 807,186 shares of the auto parts company’s stock valued at $19,074,000 after buying an additional 233,255 shares during the period. Institutional investors and hedge funds own 91.85% of the company’s stock.

Douglas Dynamics Stock Performance

NYSE:PLOW opened at $28.90 on Wednesday. The company’s 50-day moving average price is $25.62 and its 200-day moving average price is $25.19. The company has a current ratio of 2.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company has a market cap of $670.74 million, a P/E ratio of 12.57, a P/E/G ratio of 1.14 and a beta of 1.29. Douglas Dynamics, Inc. has a twelve month low of $21.30 and a twelve month high of $30.98.

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

Douglas Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be given 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 is presently 43.38%.

Insider Buying and Selling at Douglas Dynamics

In related news, Director James L. Janik sold 15,650 shares of Douglas Dynamics stock in a transaction that occurred 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 completion of the transaction, the director now owns 40,136 shares in the company, valued at approximately $1,164,345.36. The trade was a 28.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLOW. DA Davidson restated a “buy” rating and set a $32.00 price target on shares of Douglas Dynamics in a research report on Tuesday, February 25th. Wall Street Zen upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th.

About Douglas Dynamics

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.