Diamond Hill Capital Management Inc. Has $2.77 Million Stock Holdings in Douglas Dynamics, Inc. (NYSE:PLOW)

Key Points

• Diamond Hill Capital Management Inc. increased its stake in Douglas Dynamics by 22.0%, owning 119,436 shares valued at approximately $2.77 million as of the end of the first quarter.
• Douglas Dynamics reported a net margin of 11.00% and earnings per share of $0.09, exceeding analysts' expectations and showing a 20.3% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.295 per share, translating to an annual yield of 4.03% with a payout ratio of 43.38%.

Diamond Hill Capital Management Inc. lifted its position in Douglas Dynamics, Inc. (NYSE:PLOW - Free Report) by 22.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,436 shares of the auto parts company's stock after buying an additional 21,565 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.52% of Douglas Dynamics worth $2,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Douglas Dynamics by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the auto parts company's stock worth $307,000 after buying an additional 591 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Douglas Dynamics by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 280,351 shares of the auto parts company's stock worth $6,625,000 after buying an additional 750 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Douglas Dynamics by 2.9% in the first quarter. Victory Capital Management Inc. now owns 30,150 shares of the auto parts company's stock worth $700,000 after buying an additional 850 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Douglas Dynamics by 10.1% in the first quarter. New York State Common Retirement Fund now owns 10,190 shares of the auto parts company's stock worth $237,000 after buying an additional 938 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Douglas Dynamics by 24.2% in the first quarter. CWM LLC now owns 5,400 shares of the auto parts company's stock worth $125,000 after buying an additional 1,052 shares during the last quarter. 91.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James L. Janik sold 15,650 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $29.01, for a total value of $454,006.50. Following the completion of the transaction, the director owned 40,136 shares in the company, valued at approximately $1,164,345.36. This represents a 28.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DA Davidson boosted their price objective on shares of Douglas Dynamics from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen cut shares of Douglas Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

Douglas Dynamics Stock Performance

NYSE:PLOW traded down $0.10 during trading hours on Monday, hitting $29.15. 14,894 shares of the company traded hands, compared to its average volume of 196,922. The stock has a market capitalization of $676.48 million, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.10 and a beta of 1.30. Douglas Dynamics, Inc. has a twelve month low of $21.30 and a twelve month high of $31.98. The firm has a 50-day moving average of $28.91 and a 200 day moving average of $26.30. The company has a current ratio of 2.37, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54.

Douglas Dynamics (NYSE:PLOW - Get Free Report) last released its earnings results on Monday, May 5th. The auto parts company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.25. The firm had revenue of $115.07 million during the quarter, compared to analysts' expectations of $107.80 million. Douglas Dynamics had a net margin of 11.00% and a return on equity of 15.17%. The business's quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) EPS. On average, analysts forecast that Douglas Dynamics, Inc. will post 1.3 EPS for the current year.

Douglas Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Tuesday, June 17th. Douglas Dynamics's dividend payout ratio is 43.38%.

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.