Bank of America Corp DE cut its stake in shares of Douglas Dynamics Inc (NYSE:PLOW) by 21.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,044 shares of the auto parts company’s stock after selling 14,856 shares during the period. Bank of America Corp DE owned approximately 0.24% of Douglas Dynamics worth $2,642,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Lido Advisors LLC purchased a new stake in Douglas Dynamics during the 2nd quarter valued at approximately $217,000. Principal Financial Group Inc. purchased a new stake in Douglas Dynamics during the 1st quarter valued at approximately $244,000. Xact Kapitalforvaltning AB purchased a new stake in Douglas Dynamics during the 1st quarter valued at approximately $293,000. Dupont Capital Management Corp purchased a new stake in Douglas Dynamics during the 2nd quarter valued at approximately $389,000. Finally, Atria Investments LLC raised its stake in Douglas Dynamics by 26.6% during the 2nd quarter. Atria Investments LLC now owns 8,706 shares of the auto parts company’s stock valued at $418,000 after acquiring an additional 1,829 shares during the last quarter. 90.58% of the stock is owned by hedge funds and other institutional investors.
PLOW has been the subject of several analyst reports. Zacks Investment Research raised Douglas Dynamics from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, August 10th. ValuEngine downgraded Douglas Dynamics from a “buy” rating to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Douglas Dynamics currently has an average rating of “Hold” and a consensus target price of $47.67.
NYSE PLOW opened at $39.01 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.98 and a current ratio of 3.77. Douglas Dynamics Inc has a 12-month low of $36.20 and a 12-month high of $49.50. The company has a market cap of $996.94 million, a price-to-earnings ratio of 28.68 and a beta of 1.04.
Douglas Dynamics (NYSE:PLOW) last released its earnings results on Monday, November 5th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.01). Douglas Dynamics had a return on equity of 16.07% and a net margin of 12.36%. The business had revenue of $124.80 million for the quarter, compared to analyst estimates of $125.37 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Douglas Dynamics Inc will post 2.12 EPS for the current year.
In other Douglas Dynamics news, insider Jonathon P. Sievert sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $43.30, for a total transaction of $51,960.00. Following the transaction, the insider now owns 9,884 shares in the company, valued at approximately $427,977.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James L. Janik sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $44.89, for a total value of $1,122,250.00. Following the completion of the sale, the chairman now owns 239,030 shares in the company, valued at approximately $10,730,056.70. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.
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Douglas Dynamics Company Profile
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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