JPMorgan Chase & Co. Sells 704,607 Shares of Douglas Dynamics, Inc. (NYSE:PLOW)

JPMorgan Chase & Co. reduced its stake in Douglas Dynamics, Inc. (NYSE:PLOW - Free Report) by 39.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082,435 shares of the auto parts company's stock after selling 704,607 shares during the quarter. JPMorgan Chase & Co. owned about 4.69% of Douglas Dynamics worth $29,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted 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 valued at $207,000 after purchasing an additional 441 shares in the last quarter. CWM LLC boosted its position in Douglas Dynamics by 42.2% during the 3rd quarter. CWM LLC now owns 4,050 shares of the auto parts company's stock valued at $112,000 after acquiring an additional 1,201 shares in the last quarter. FMR LLC grew its holdings 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 acquiring an additional 1,229 shares during the period. American Century Companies Inc. raised its position in shares of 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 worth $600,000 after acquiring an additional 2,329 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Douglas Dynamics by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 33,938 shares of the auto parts company's stock worth $794,000 after acquiring an additional 2,870 shares in the last quarter. 91.85% of the stock is currently owned by hedge funds and other institutional investors.

Douglas Dynamics Stock Performance

PLOW traded up $0.42 during trading on Wednesday, hitting $24.03. The company's stock had a trading volume of 178,248 shares, compared to its average volume of 172,389. The business's 50 day simple moving average is $24.70 and its 200-day simple moving average is $25.64. The company has a quick ratio of 1.13, a current ratio of 2.14 and a debt-to-equity ratio of 0.56. Douglas Dynamics, Inc. has a one year low of $21.31 and a one year high of $30.98. The firm has a market cap of $554.95 million, a PE ratio of 10.45, a P/E/G ratio of 1.40 and a beta of 1.21.

Douglas Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.295 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.18 annualized dividend and a yield of 4.91%. Douglas Dynamics's payout ratio is currently 51.30%.

Analyst Ratings Changes

A number of brokerages have recently commented on PLOW. Robert W. Baird dropped their target price on shares of Douglas Dynamics from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. StockNews.com raised Douglas Dynamics from a "hold" rating to a "buy" rating in a research report on Tuesday.

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.