Schwab Charles Investment Management Inc. boosted its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,179 shares of the auto parts company’s stock after buying an additional 9,667 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.47% of Douglas Dynamics worth $3,494,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. American International Group Inc. increased its holdings in shares of Douglas Dynamics by 7.1% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Douglas Dynamics by 1.6% in 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 in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Douglas Dynamics in the 1st quarter worth $4,428,000. Bank of New York Mellon Corp increased its holdings in shares of Douglas Dynamics by 35.1% in the 1st quarter. Bank of New York Mellon Corp now owns 338,297 shares of the auto parts company’s stock worth $10,369,000 after purchasing an additional 87,844 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Douglas Dynamics by 49.3% in the 1st quarter. Tudor Investment Corp ET AL now owns 26,229 shares of the auto parts company’s stock worth $804,000 after purchasing an additional 8,659 shares in the last quarter. 89.34% of the stock is owned by institutional investors.
In other news, CFO Sarah C. Lauber bought 1,250 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average cost of $36.04 per share, with a total value of $45,050.00. Following the transaction, the chief financial officer now directly owns 1,250 shares in the company, valued at $45,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman James L. Janik sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 322,790 shares in the company, valued at $11,307,333.70. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.
Shares of Douglas Dynamics, Inc. (PLOW) opened at 40.50 on Thursday. The company has a market cap of $914.90 million, a price-to-earnings ratio of 32.14 and a beta of 1.13. The firm has a 50 day moving average price of $38.11 and a 200-day moving average price of $33.24. Douglas Dynamics, Inc. has a 12-month low of $25.23 and a 12-month high of $41.35.
Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings results on Monday, August 7th. The auto parts company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.11. The business had revenue of $139.40 million for the quarter, compared to the consensus estimate of $132.33 million. Douglas Dynamics had a return on equity of 14.96% and a net margin of 6.16%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, equities analysts expect that Douglas Dynamics, Inc. will post $1.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, September 18th. Douglas Dynamics’s payout ratio is presently 76.19%.
A number of research firms have commented on PLOW. Zacks Investment Research lowered Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub raised Douglas Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Oppenheimer Holdings, Inc. dropped coverage on Douglas Dynamics in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Douglas Dynamics has an average 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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