Bank of New York Mellon Corp Purchases 48,936 Shares of Douglas Dynamics, Inc. (NYSE:PLOW)

Bank of New York Mellon Corp boosted its position in shares of Douglas Dynamics, Inc. (NYSE:PLOW - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,867 shares of the auto parts company's stock after buying an additional 48,936 shares during the period. Bank of New York Mellon Corp owned approximately 1.29% of Douglas Dynamics worth $7,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLOW. R Squared Ltd bought a new stake in shares of Douglas Dynamics in the 4th quarter worth about $49,000. FMR LLC grew its position in Douglas Dynamics by 88.6% in the third quarter. FMR LLC now owns 2,616 shares of the auto parts company's stock worth $72,000 after acquiring an additional 1,229 shares in the last quarter. Quest Partners LLC bought a new stake in Douglas Dynamics during the third quarter worth approximately $118,000. Victory Capital Management Inc. purchased a new stake in Douglas Dynamics during the third quarter valued at approximately $207,000. Finally, XTX Topco Ltd bought a new stake in shares of Douglas Dynamics in the 3rd quarter valued at approximately $219,000. 91.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PLOW. StockNews.com upgraded Douglas Dynamics from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th. DA Davidson reissued a "buy" rating and issued a $32.00 target price on shares of Douglas Dynamics in a research note on Tuesday, February 25th.

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Douglas Dynamics Trading Up 0.5 %

Shares of NYSE:PLOW traded up $0.12 during trading hours on Wednesday, hitting $24.24. 48,164 shares of the company's stock traded hands, compared to its average volume of 163,318. The firm has a market capitalization of $559.68 million, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 1.14 and a beta of 1.17. The business has a fifty day moving average price of $25.39 and a 200-day moving average price of $25.61. Douglas Dynamics, Inc. has a 1 year low of $21.31 and a 1 year high of $30.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.14 and a quick ratio of 1.13.

Douglas Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 18th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, March 18th. Douglas Dynamics's dividend payout ratio is presently 50.43%.

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.