American International Group Inc. Has $418,000 Position in Douglas Dynamics, Inc. (NYSE:PLOW)
American International Group Inc. raised its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 7.1% during the first quarter, Holdings Channel reports. The institutional investor owned 13,622 shares of the auto parts company’s stock after buying an additional 900 shares during the period. American International Group Inc.’s holdings in Douglas Dynamics were worth $418,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its position in shares of Douglas Dynamics by 2.6% in the first quarter. Wells Fargo & Company MN now owns 1,434,162 shares of the auto parts company’s stock valued at $43,956,000 after buying an additional 36,462 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Douglas Dynamics by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,339,678 shares of the auto parts company’s stock valued at $45,080,000 after buying an additional 7,642 shares during the period. State Street Corp boosted its stake in Douglas Dynamics by 8.0% in the fourth quarter. State Street Corp now owns 460,038 shares of the auto parts company’s stock valued at $15,477,000 after buying an additional 34,138 shares during the period. Bank of New York Mellon Corp boosted its stake in Douglas Dynamics by 35.1% in the first quarter. Bank of New York Mellon Corp now owns 338,297 shares of the auto parts company’s stock valued at $10,369,000 after buying an additional 87,844 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in Douglas Dynamics during the first quarter valued at about $6,060,000. 85.66% of the stock is owned by institutional investors.
Shares of Douglas Dynamics, Inc. (NYSE PLOW) opened at 31.30 on Friday. The stock’s 50 day moving average is $30.46 and its 200 day moving average is $31.86. The stock has a market capitalization of $707.07 million, a PE ratio of 23.55 and a beta of 1.14. Douglas Dynamics, Inc. has a 52-week low of $24.05 and a 52-week high of $35.90.
Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings data on Monday, May 8th. The auto parts company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.08. The firm had revenue of $72.20 million during the quarter, compared to the consensus estimate of $78.34 million. Douglas Dynamics had a net margin of 6.83% and a return on equity of 15.78%. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Equities research analysts expect that Douglas Dynamics, Inc. will post $1.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 20th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, June 16th. This represents a $0.96 annualized dividend and a yield of 3.07%. Douglas Dynamics’s payout ratio is 72.18%.
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Several research firms have recently issued reports on PLOW. Zacks Investment Research raised shares of Douglas Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Douglas Dynamics in a research report on Monday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $39.00.
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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