Invenomic Capital Management LP Makes New Investment in Douglas Dynamics, Inc. (NYSE:PLOW)

Invenomic Capital Management LP purchased a new position in Douglas Dynamics, Inc. (NYSE:PLOW) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 125,683 shares of the auto parts company’s stock, valued at approximately $3,031,000. Invenomic Capital Management LP owned 0.54% of Douglas Dynamics as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Conestoga Capital Advisors LLC grew its stake in shares of Douglas Dynamics by 16.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,191,913 shares of the auto parts company’s stock worth $65,056,000 after purchasing an additional 311,799 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Douglas Dynamics during the first quarter valued at about $7,055,000. BNP Paribas Financial Markets boosted its stake in Douglas Dynamics by 260.6% during the first quarter. BNP Paribas Financial Markets now owns 90,001 shares of the auto parts company’s stock valued at $2,171,000 after buying an additional 65,042 shares in the last quarter. Wellington Management Group LLP boosted its stake in Douglas Dynamics by 18.5% during the fourth quarter. Wellington Management Group LLP now owns 308,107 shares of the auto parts company’s stock valued at $9,145,000 after buying an additional 48,189 shares in the last quarter. Finally, Olstein Capital Management L.P. bought a new position in Douglas Dynamics during the first quarter valued at about $1,061,000. 91.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLOW has been the subject of several research reports. Robert W. Baird reaffirmed a “neutral” rating and set a $25.00 target price (down previously from $36.00) on shares of Douglas Dynamics in a research note on Monday, April 8th. DA Davidson reiterated a “buy” rating and issued a $31.00 price target on shares of Douglas Dynamics in a research report on Tuesday, April 30th.

Douglas Dynamics Stock Down 3.9 %

Douglas Dynamics stock traded down $1.21 during mid-day trading on Wednesday, hitting $29.50. The company’s stock had a trading volume of 136,999 shares, compared to its average volume of 238,177. The firm’s 50 day moving average is $24.01 and its 200 day moving average is $24.28. The company has a market cap of $681.16 million, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.06 and a quick ratio of 0.60. Douglas Dynamics, Inc. has a 52-week low of $21.31 and a 52-week high of $35.39.

Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings data on Monday, July 29th. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.48. The business had revenue of $199.90 million for the quarter, compared to the consensus estimate of $181.30 million. Douglas Dynamics had a return on equity of 13.49% and a net margin of 5.03%. During the same period last year, the business earned $1.00 EPS. On average, analysts anticipate that Douglas Dynamics, Inc. will post 1.3 earnings per share for the current year.

Douglas Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Monday, June 17th. Douglas Dynamics’s dividend payout ratio is presently 100.86%.

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.