Geode Capital Management LLC Acquires 6,657 Shares of Douglas Dynamics, Inc. (NYSE:PLOW)

Geode Capital Management LLC lifted its holdings in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 1.3% during the third quarter, HoldingsChannel reports. The firm owned 516,457 shares of the auto parts company’s stock after purchasing an additional 6,657 shares during the quarter. Geode Capital Management LLC’s holdings in Douglas Dynamics were worth $14,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Douglas Dynamics by 88.6% during the 3rd quarter. FMR LLC now owns 2,616 shares of the auto parts company’s stock worth $72,000 after purchasing an additional 1,229 shares during the period. CWM LLC raised its stake in shares of Douglas Dynamics by 42.2% during the 3rd quarter. CWM LLC now owns 4,050 shares of the auto parts company’s stock worth $112,000 after purchasing an additional 1,201 shares during the period. Quest Partners LLC bought a new stake in shares of Douglas Dynamics during the 3rd quarter worth $118,000. Point72 Asset Management L.P. raised its stake in shares of Douglas Dynamics by 113.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 6,836 shares of the auto parts company’s stock worth $160,000 after purchasing an additional 3,636 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Douglas Dynamics by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,862 shares of the auto parts company’s stock worth $207,000 after purchasing an additional 441 shares during the period. 91.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PLOW shares. StockNews.com cut Douglas Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird lowered their price objective on Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

Douglas Dynamics Trading Up 0.3 %

Shares of Douglas Dynamics stock opened at $23.40 on Tuesday. Douglas Dynamics, Inc. has a 52-week low of $21.31 and a 52-week high of $30.98. The stock’s 50-day simple moving average is $24.94 and its 200 day simple moving average is $25.61. The stock has a market capitalization of $540.40 million, a P/E ratio of 10.17, a P/E/G ratio of 1.40 and a beta of 1.20. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.14.

Douglas Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Monday, December 16th. Douglas Dynamics’s dividend payout ratio is currently 51.30%.

Douglas Dynamics 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.