Douglas Dynamics, Inc. $PLOW Shares Sold by Comerica Bank

Key Points

• Comerica Bank has significantly reduced its stake in Douglas Dynamics, Inc. by 65.3%, owning approximately 0.06% of the company worth $350,000 after selling 28,337 shares in the first quarter.
• Douglas Dynamics reported better-than-expected earnings of $1.14 per share for the last quarter, surpassing the consensus estimate by $0.30, although revenues were down by 2.8% year-over-year.
• The company is set to pay a quarterly dividend of $0.295 per share on September 30th, with an annualized dividend yield of 3.5% and a payout ratio of 42.29%.

Comerica Bank reduced its stake in Douglas Dynamics, Inc. (NYSE:PLOW - Free Report) by 65.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,059 shares of the auto parts company's stock after selling 28,337 shares during the period. Comerica Bank owned about 0.06% of Douglas Dynamics worth $350,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Northern Trust Corp boosted its position in shares of Douglas Dynamics by 9.6% during the fourth quarter. Northern Trust Corp now owns 225,645 shares of the auto parts company's stock valued at $5,332,000 after purchasing an additional 19,768 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Douglas Dynamics by 62.5% in the fourth quarter. Ameriprise Financial Inc. now owns 47,014 shares of the auto parts company's stock worth $1,111,000 after acquiring an additional 18,074 shares in the last quarter. Bank of America Corp DE boosted its holdings in Douglas Dynamics by 1.1% in the fourth quarter. Bank of America Corp DE now owns 274,978 shares of the auto parts company's stock worth $6,498,000 after acquiring an additional 3,089 shares in the last quarter. Deutsche Bank AG boosted its holdings in Douglas Dynamics by 47.7% in the fourth quarter. Deutsche Bank AG now owns 23,989 shares of the auto parts company's stock worth $567,000 after acquiring an additional 7,747 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in Douglas Dynamics in the fourth quarter worth $296,000. 91.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLOW has been the subject of several recent analyst reports. Wall Street Zen cut Douglas Dynamics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. DA Davidson upped their price objective on Douglas Dynamics from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Douglas Dynamics Stock Down 1.8%

Shares of Douglas Dynamics stock traded down $0.60 during trading on Friday, reaching $32.59. The company's stock had a trading volume of 81,340 shares, compared to its average volume of 135,591. The company has a 50-day simple moving average of $31.21 and a two-hundred day simple moving average of $27.84. Douglas Dynamics, Inc. has a 1-year low of $21.30 and a 1-year high of $34.25. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51. The company has a market cap of $750.97 million, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.19 and a beta of 1.33.

Douglas Dynamics (NYSE:PLOW - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The auto parts company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.30. Douglas Dynamics had a return on equity of 15.16% and a net margin of 11.38%.The company had revenue of $194.33 million during the quarter, compared to analysts' expectations of $189.47 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. Douglas Dynamics has set its FY 2025 guidance at 1.650-2.150 EPS. As a group, equities analysts forecast that Douglas Dynamics, Inc. will post 1.3 earnings per share for the current year.

Douglas Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 16th. Douglas Dynamics's payout ratio is currently 42.29%.

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.