First Trust Advisors LP increased its holdings in shares of Douglas Dynamics Inc (NYSE:PLOW) by 63.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,736 shares of the auto parts company’s stock after purchasing an additional 34,123 shares during the period. First Trust Advisors LP owned 0.39% of Douglas Dynamics worth $3,316,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. California Public Employees Retirement System acquired a new stake in Douglas Dynamics during the 4th quarter worth $343,000. Teacher Retirement System of Texas acquired a new stake in shares of Douglas Dynamics in the 4th quarter worth $292,000. Cadence Capital Management LLC lifted its stake in shares of Douglas Dynamics by 7.8% in the 4th quarter. Cadence Capital Management LLC now owns 40,833 shares of the auto parts company’s stock worth $1,543,000 after acquiring an additional 2,959 shares during the period. Comerica Bank lifted its stake in shares of Douglas Dynamics by 87.5% in the 4th quarter. Comerica Bank now owns 11,786 shares of the auto parts company’s stock worth $493,000 after acquiring an additional 5,500 shares during the period. Finally, Eqis Capital Management Inc. lifted its stake in shares of Douglas Dynamics by 7.2% in the 4th quarter. Eqis Capital Management Inc. now owns 68,437 shares of the auto parts company’s stock worth $2,587,000 after acquiring an additional 4,613 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.
Shares of Douglas Dynamics Inc (NYSE PLOW) opened at $46.90 on Wednesday. Douglas Dynamics Inc has a 52 week low of $28.55 and a 52 week high of $47.40. The company has a market cap of $1,045.96, a price-to-earnings ratio of 19.54, a PEG ratio of 1.55 and a beta of 1.15. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 22nd will be paid a $0.265 dividend. This is a boost from Douglas Dynamics’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $1.06 annualized dividend and a dividend yield of 2.26%. Douglas Dynamics’s dividend payout ratio (DPR) is 40.00%.
In related news, Chairman James L. Janik sold 15,593 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.64, for a total value of $586,920.52. Following the completion of the sale, the chairman now owns 261,892 shares in the company, valued at $9,857,614.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Dejana sold 741 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $43.49, for a total transaction of $32,226.09. The disclosure for this sale can be found here. Insiders sold 58,731 shares of company stock valued at $2,411,842 in the last quarter. Company insiders own 3.20% of the company’s stock.
Several analysts have recently commented on the stock. Craig Hallum set a $50.00 target price on shares of Douglas Dynamics and gave the stock a “buy” rating in a research note on Wednesday, February 28th. ValuEngine upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Robert W. Baird restated a “hold” rating and issued a $44.00 target price on shares of Douglas Dynamics in a research note on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Saturday, March 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.67.
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Douglas Dynamics Company Profile
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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