Panagora Asset Management Inc. raised its position in shares of Douglas Dynamics Inc (NYSE:PLOW) by 58.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,516 shares of the auto parts company’s stock after acquiring an additional 13,438 shares during the period. Panagora Asset Management Inc. owned approximately 0.16% of Douglas Dynamics worth $1,603,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its position in Douglas Dynamics by 429.6% during the third quarter. Meeder Asset Management Inc. now owns 3,808 shares of the auto parts company’s stock valued at $167,000 after acquiring an additional 3,089 shares during the period. BB&T Corp purchased a new stake in Douglas Dynamics during the third quarter valued at about $207,000. Campbell & CO Investment Adviser LLC purchased a new stake in Douglas Dynamics during the third quarter valued at about $214,000. Lido Advisors LLC purchased a new stake in Douglas Dynamics during the second quarter valued at about $217,000. Finally, Advisors Asset Management Inc. grew its position in Douglas Dynamics by 852.7% during the second quarter. Advisors Asset Management Inc. now owns 46,873 shares of the auto parts company’s stock valued at $224,000 after acquiring an additional 41,953 shares during the period. 89.35% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Douglas Dynamics from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 8th. Craig Hallum set a $43.00 price target on Douglas Dynamics and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, ValuEngine downgraded Douglas Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th.
Shares of PLOW opened at $35.97 on Friday. The stock has a market cap of $812.60 million, a price-to-earnings ratio of 19.98 and a beta of 0.99. Douglas Dynamics Inc has a 12 month low of $34.71 and a 12 month high of $49.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.42 and a current ratio of 2.47.
Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings data on Monday, November 5th. The auto parts company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.01). The company had revenue of $124.80 million for the quarter, compared to analyst estimates of $125.37 million. Douglas Dynamics had a return on equity of 15.64% and a net margin of 12.49%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, equities research analysts predict that Douglas Dynamics Inc will post 2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 21st will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, December 20th. Douglas Dynamics’s dividend payout ratio is presently 77.94%.
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About Douglas Dynamics
Douglas Dynamics, Inc operates as a manufacturer and up-fitter of commercial work truck attachments and equipment primarily in North America. It operates in 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 and heavy duty trucks, as well as various related parts and accessories.
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