Douglas Dynamics (NYSE:PLOW) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Douglas Dynamics (NYSE:PLOW) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Separately, Robert W. Baird dropped their price objective on Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

Douglas Dynamics Stock Performance

NYSE:PLOW opened at $24.28 on Wednesday. The firm has a 50-day moving average of $24.74 and a two-hundred day moving average of $25.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.14 and a quick ratio of 1.13. The stock has a market cap of $560.63 million, a P/E ratio of 10.56, a PEG ratio of 1.02 and a beta of 1.21. Douglas Dynamics has a 1-year low of $21.31 and a 1-year high of $30.98.

Douglas Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.295 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.86%. Douglas Dynamics’s dividend payout ratio (DPR) is presently 51.30%.

Hedge Funds Weigh In On Douglas Dynamics

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Douglas Dynamics by 1.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,420,408 shares of the auto parts company’s stock worth $66,755,000 after acquiring an additional 36,797 shares in the last quarter. Pzena Investment Management LLC increased its stake in Douglas Dynamics by 15.9% during the third quarter. Pzena Investment Management LLC now owns 1,624,820 shares of the auto parts company’s stock valued at $44,813,000 after purchasing an additional 222,945 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Douglas Dynamics by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 879,948 shares of the auto parts company’s stock worth $20,590,000 after buying an additional 14,835 shares during the last quarter. DF Dent & Co. Inc. grew its position in shares of Douglas Dynamics by 26.3% during the 3rd quarter. DF Dent & Co. Inc. now owns 855,642 shares of the auto parts company’s stock valued at $23,599,000 after buying an additional 178,018 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Douglas Dynamics by 1.3% during the third quarter. Geode Capital Management LLC now owns 516,457 shares of the auto parts company’s stock worth $14,247,000 after acquiring an additional 6,657 shares during the period. Institutional investors own 91.85% of the company’s stock.

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.