Douglas Dynamics (NYSE:PLOW) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Douglas Dynamics (NYSE:PLOW) from a hold rating to a buy rating in a research note released on Tuesday.

Separately, Robert W. Baird lowered their price objective on shares of Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Douglas Dynamics Stock Down 1.5 %

Shares of NYSE PLOW opened at $23.58 on Tuesday. Douglas Dynamics has a 52-week low of $21.31 and a 52-week high of $30.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.14. The stock has a market cap of $544.56 million, a P/E ratio of 10.25, a P/E/G ratio of 1.40 and a beta of 1.21. The firm has a 50 day moving average price of $24.70 and a 200 day moving average price of $25.64.

Douglas Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Monday, December 16th. Douglas Dynamics’s payout ratio is currently 51.30%.

Institutional Investors Weigh In On Douglas Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in PLOW. Bank of New York Mellon Corp raised its stake in shares of Douglas Dynamics by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 262,424 shares of the auto parts company’s stock valued at $6,141,000 after purchasing an additional 8,952 shares during the period. Rhumbline Advisers raised its position in Douglas Dynamics by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 33,938 shares of the auto parts company’s stock valued at $794,000 after buying an additional 2,870 shares during the last quarter. American Century Companies Inc. lifted its stake in Douglas Dynamics by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 25,621 shares of the auto parts company’s stock valued at $600,000 after acquiring an additional 2,329 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Douglas Dynamics by 20.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,969 shares of the auto parts company’s stock worth $444,000 after acquiring an additional 3,247 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Douglas Dynamics by 9.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 157,212 shares of the auto parts company’s stock worth $3,679,000 after acquiring an additional 13,253 shares in the last quarter. 91.85% of the stock is currently owned by institutional investors and hedge funds.

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.