Redmont Wealth Advisors LLC Makes New Investment in Douglas Dynamics, Inc. (NYSE:PLOW)

Redmont Wealth Advisors LLC acquired a new stake in Douglas Dynamics, Inc. (NYSE:PLOW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,480 shares of the auto parts company’s stock, valued at approximately $638,000. Redmont Wealth Advisors LLC owned approximately 0.09% of Douglas Dynamics at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Advisor Group Holdings Inc. increased its stake in shares of Douglas Dynamics by 52.8% during the first quarter. Advisor Group Holdings Inc. now owns 7,992 shares of the auto parts company’s stock worth $146,000 after acquiring an additional 2,762 shares during the period. Bank of New York Mellon Corp boosted its holdings in Douglas Dynamics by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 228,350 shares of the auto parts company’s stock valued at $7,899,000 after acquiring an additional 2,563 shares during the last quarter. Natixis Advisors L.P. grew its position in Douglas Dynamics by 1.1% during the first quarter. Natixis Advisors L.P. now owns 32,297 shares of the auto parts company’s stock valued at $1,117,000 after acquiring an additional 348 shares during the period. MetLife Investment Management LLC increased its stake in Douglas Dynamics by 58.2% during the first quarter. MetLife Investment Management LLC now owns 12,125 shares of the auto parts company’s stock worth $419,000 after acquiring an additional 4,460 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Douglas Dynamics by 8.2% in the 1st quarter. Raymond James Trust N.A. now owns 5,946 shares of the auto parts company’s stock worth $206,000 after purchasing an additional 452 shares during the period. 91.85% of the stock is owned by institutional investors and hedge funds.

Douglas Dynamics Stock Performance

NYSE:PLOW traded down $0.03 during trading hours on Friday, reaching $21.98. 89,554 shares of the stock were exchanged, compared to its average volume of 244,024. The company has a quick ratio of 1.01, a current ratio of 2.21 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $23.94 and a 200-day simple moving average of $26.63. Douglas Dynamics, Inc. has a 52 week low of $21.42 and a 52 week high of $35.39. The stock has a market capitalization of $505.10 million, a P/E ratio of 22.81, a P/E/G ratio of 1.07 and a beta of 1.14.

Douglas Dynamics (NYSE:PLOW) last announced its quarterly earnings results on Monday, February 26th. The auto parts company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.12. The business had revenue of $134.25 million for the quarter, compared to analysts’ expectations of $134.00 million. Douglas Dynamics had a return on equity of 10.18% and a net margin of 4.18%. As a group, sell-side analysts forecast that Douglas Dynamics, Inc. will post 1.46 earnings per share for the current fiscal year.

Douglas Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Friday, March 15th. Douglas Dynamics’s payout ratio is 122.92%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird restated a “neutral” rating and issued a $25.00 price target (down previously from $36.00) on shares of Douglas Dynamics in a report on Monday, April 8th.

Douglas Dynamics Profile

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through 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 trucks and heavy duty trucks, as well as various related parts and accessories.