Bank of New York Mellon Corp Sells 14,379 Shares of Douglas Dynamics, Inc. (NYSE:PLOW)

Bank of New York Mellon Corp trimmed its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 282,488 shares of the auto parts company's stock after selling 14,379 shares during the quarter. Bank of New York Mellon Corp owned about 1.22% of Douglas Dynamics worth $6,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Douglas Dynamics by 0.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,451,938 shares of the auto parts company's stock worth $57,032,000 after buying an additional 11,297 shares during the period. Millennium Management LLC grew its holdings in shares of Douglas Dynamics by 27.3% in the 4th quarter. Millennium Management LLC now owns 43,823 shares of the auto parts company's stock worth $1,036,000 after acquiring an additional 9,411 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Douglas Dynamics by 3,811.8% in the 1st quarter. GAMMA Investing LLC now owns 13,613 shares of the auto parts company's stock worth $316,000 after acquiring an additional 13,265 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Douglas Dynamics by 80.6% in the 4th quarter. Nuveen Asset Management LLC now owns 138,392 shares of the auto parts company's stock worth $3,270,000 after acquiring an additional 61,759 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Douglas Dynamics by 72.7% in the 1st quarter. Teacher Retirement System of Texas now owns 132,214 shares of the auto parts company's stock worth $3,071,000 after purchasing an additional 55,657 shares in the last quarter. 91.85% of the stock is currently owned by institutional investors and hedge funds.

Douglas Dynamics Trading Down 0.5%

PLOW traded down $0.15 during mid-day trading on Friday, hitting $29.27. The stock had a trading volume of 119,988 shares, compared to its average volume of 212,232. The firm has a market capitalization of $679.37 million, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 0.70. The stock's fifty day simple moving average is $28.91 and its 200-day simple moving average is $26.29. Douglas Dynamics, Inc. has a 1-year low of $21.30 and a 1-year high of $31.98.

Douglas Dynamics (NYSE:PLOW - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The auto parts company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.25. Douglas Dynamics had a net margin of 11.00% and a return on equity of 15.17%. The business had revenue of $115.07 million for the quarter, compared to analyst estimates of $107.80 million. During the same period last year, the business posted ($0.29) earnings per share. The firm's quarterly revenue was up 20.3% on a year-over-year basis. As a group, research analysts forecast that Douglas Dynamics, Inc. will post 1.3 EPS for the current fiscal year.

Douglas Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Tuesday, June 17th were paid a $0.295 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.18 annualized dividend and a yield of 4.03%. Douglas Dynamics's dividend payout ratio (DPR) is presently 43.38%.

Insider Activity

In other news, Director James L. Janik sold 15,650 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $29.01, for a total transaction of $454,006.50. Following the completion of the sale, the director owned 40,136 shares of the company's stock, valued at approximately $1,164,345.36. This represents a 28.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

PLOW has been the topic of several analyst reports. DA Davidson lifted their target price on shares of Douglas Dynamics from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen cut shares of Douglas Dynamics from a "strong-buy" rating to a "buy" rating in a report on Saturday.

About Douglas Dynamics

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.