Bank of New York Mellon Corp Sells 9,281 Shares of Douglas Dynamics, Inc. $PLOW

Bank of New York Mellon Corp trimmed its holdings in shares of Douglas Dynamics, Inc. (NYSE:PLOW - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 273,207 shares of the auto parts company's stock after selling 9,281 shares during the quarter. Bank of New York Mellon Corp owned about 1.18% of Douglas Dynamics worth $8,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Douglas Dynamics during the second quarter valued at approximately $216,000. New York State Teachers Retirement System bought a new position in shares of Douglas Dynamics during the second quarter valued at $61,000. Pzena Investment Management LLC boosted its stake in Douglas Dynamics by 0.4% during the 2nd quarter. Pzena Investment Management LLC now owns 2,281,587 shares of the auto parts company's stock valued at $67,238,000 after purchasing an additional 8,584 shares during the last quarter. CWM LLC boosted its holdings in shares of Douglas Dynamics by 18.8% during the 2nd quarter. CWM LLC now owns 6,413 shares of the auto parts company's stock valued at $189,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Kings Path Partners LLC lifted its holdings in shares of Douglas Dynamics by 47.3% during the 2nd quarter. Kings Path Partners LLC now owns 16,031 shares of the auto parts company's stock valued at $472,000 after buying an additional 5,146 shares during the period. Hedge funds and other institutional investors own 91.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. DA Davidson set a $39.00 target price on shares of Douglas Dynamics in a research note on Thursday, November 6th. Weiss Ratings restated a "hold (c+)" rating on shares of Douglas Dynamics in a research report on Wednesday. Finally, Wall Street Zen upgraded Douglas Dynamics from a "hold" rating to a "strong-buy" rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Douglas Dynamics has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Check Out Our Latest Stock Report on Douglas Dynamics

Douglas Dynamics Stock Performance

PLOW opened at $30.05 on Friday. The firm has a market capitalization of $692.41 million, a PE ratio of 10.77, a P/E/G ratio of 1.13 and a beta of 1.30. The firm has a 50 day moving average of $31.07 and a two-hundred day moving average of $30.24. The company has a current ratio of 2.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. Douglas Dynamics, Inc. has a 12-month low of $21.30 and a 12-month high of $34.25.

Douglas Dynamics (NYSE:PLOW - Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The auto parts company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The company had revenue of $162.12 million during the quarter, compared to analysts' expectations of $163.27 million. Douglas Dynamics had a net margin of 11.38% and a return on equity of 15.16%. Douglas Dynamics has set its FY 2025 guidance at 1.850-2.250 EPS. On average, analysts anticipate that Douglas Dynamics, Inc. will post 1.3 EPS for the current year.

Douglas Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, September 16th. Douglas Dynamics's payout ratio is currently 67.05%.

Douglas Dynamics Company 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.

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