First Trust Advisors LP Lowers Holdings in Douglas Dynamics, Inc. (PLOW)
First Trust Advisors LP reduced its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 49.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,613 shares of the auto parts company’s stock after selling 53,456 shares during the quarter. First Trust Advisors LP owned approximately 0.24% of Douglas Dynamics worth $2,112,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Teton Advisors Inc. purchased a new stake in shares of Douglas Dynamics during the 2nd quarter worth $352,000. Voya Investment Management LLC lifted its stake in shares of Douglas Dynamics by 9.8% during the 2nd quarter. Voya Investment Management LLC now owns 12,217 shares of the auto parts company’s stock worth $402,000 after purchasing an additional 1,090 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Douglas Dynamics by 4.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,458 shares of the auto parts company’s stock worth $410,000 after purchasing an additional 531 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Douglas Dynamics by 8.1% during the 2nd quarter. Victory Capital Management Inc. now owns 13,859 shares of the auto parts company’s stock worth $456,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Douglas Dynamics by 1.6% during the 1st 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 last quarter. Hedge funds and other institutional investors own 89.74% of the company’s stock.
Shares of Douglas Dynamics, Inc. (PLOW) traded down $0.45 during midday trading on Friday, hitting $40.60. The company had a trading volume of 20,414 shares, compared to its average volume of 73,828. The company has a quick ratio of 1.76, a current ratio of 2.97 and a debt-to-equity ratio of 1.35. The stock has a market cap of $917.19, a PE ratio of 30.30, a P/E/G ratio of 1.92 and a beta of 1.16. Douglas Dynamics, Inc. has a 1 year low of $28.55 and a 1 year high of $42.60.
Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings data on Monday, November 6th. The auto parts company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). Douglas Dynamics had a return on equity of 13.98% and a net margin of 6.59%. The company had revenue of $125.30 million for the quarter, compared to analysts’ expectations of $133.53 million. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. analysts predict that Douglas Dynamics, Inc. will post 1.41 EPS for the current year.
In other Douglas Dynamics news, CFO Sarah C. Lauber purchased 1,250 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $36.04 per share, for a total transaction of $45,050.00. Following the completion of the purchase, the chief financial officer now owns 1,250 shares in the company, valued at approximately $45,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James L. Janik sold 20,000 shares of the 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 owns 322,790 shares of the company’s stock, valued at $11,307,333.70. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.
PLOW has been the subject of a number of analyst reports. BidaskClub upgraded Douglas Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research cut Douglas Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Douglas Dynamics currently has an average rating of “Hold” and a consensus price target of $40.00.
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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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