State Street Corp Reduces Stock Holdings in Douglas Dynamics, Inc. (NYSE:PLOW)

State Street Corp lessened its holdings in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 534,395 shares of the auto parts company’s stock after selling 5,059 shares during the period. State Street Corp owned 2.31% of Douglas Dynamics worth $14,739,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Needham Investment Management LLC bought a new stake in shares of Douglas Dynamics in the 3rd quarter worth $414,000. Hotchkis & Wiley Capital Management LLC grew its position in Douglas Dynamics by 78.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 202,680 shares of the auto parts company’s stock valued at $5,590,000 after buying an additional 88,940 shares during the period. PDT Partners LLC purchased a new stake in Douglas Dynamics during the third quarter valued at approximately $233,000. FMR LLC raised its position in Douglas Dynamics by 88.6% in the third quarter. FMR LLC now owns 2,616 shares of the auto parts company’s stock worth $72,000 after acquiring an additional 1,229 shares during the period. Finally, Pzena Investment Management LLC raised its position in Douglas Dynamics by 15.9% in the third quarter. Pzena Investment Management LLC now owns 1,624,820 shares of the auto parts company’s stock worth $44,813,000 after acquiring an additional 222,945 shares during the period. 91.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLOW. Robert W. Baird lowered their target price on shares of Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

Douglas Dynamics Price Performance

Douglas Dynamics stock opened at $23.54 on Wednesday. Douglas Dynamics, Inc. has a 12-month low of $21.31 and a 12-month high of $30.98. The company has a current ratio of 2.14, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $25.16 and a 200-day moving average price of $25.63. The firm has a market capitalization of $543.63 million, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.40 and a beta of 1.20.

Douglas Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, December 16th. Douglas Dynamics’s payout ratio is currently 51.30%.

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.