Allspring Global Investments Holdings LLC Has $73.18 Million Stock Position in Douglas Dynamics, Inc. $PLOW

Allspring Global Investments Holdings LLC lowered its holdings in shares of Douglas Dynamics, Inc. (NYSE:PLOW) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,438,401 shares of the auto parts company’s stock after selling 13,537 shares during the period. Allspring Global Investments Holdings LLC owned approximately 10.51% of Douglas Dynamics worth $73,176,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PLOW. GAMMA Investing LLC grew its stake in Douglas Dynamics by 3,811.8% in the first quarter. GAMMA Investing LLC now owns 13,613 shares of the auto parts company’s stock valued at $316,000 after acquiring an additional 13,265 shares during the period. Rhumbline Advisers raised its stake in shares of Douglas Dynamics by 3.9% in the first quarter. Rhumbline Advisers now owns 34,313 shares of the auto parts company’s stock valued at $797,000 after buying an additional 1,286 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Douglas Dynamics by 72.7% in the first quarter. Teacher Retirement System of Texas now owns 132,214 shares of the auto parts company’s stock valued at $3,071,000 after buying an additional 55,657 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Douglas Dynamics by 58.6% in the first quarter. Envestnet Asset Management Inc. now owns 54,145 shares of the auto parts company’s stock valued at $1,258,000 after purchasing an additional 19,997 shares in the last quarter. Finally, ARGA Investment Management LP purchased a new position in shares of Douglas Dynamics in the first quarter valued at $381,000. Institutional investors and hedge funds own 91.85% of the company’s stock.

Wall Street Analyst Weigh In

PLOW has been the subject of several recent analyst reports. DA Davidson boosted their target price on Douglas Dynamics from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Douglas Dynamics in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Douglas Dynamics from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Douglas Dynamics Trading Up 1.5%

Shares of PLOW stock opened at $30.20 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $32.05 and a two-hundred day moving average price of $28.82. Douglas Dynamics, Inc. has a 12-month low of $21.30 and a 12-month high of $34.25. The firm has a market cap of $695.81 million, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29.

Douglas Dynamics (NYSE:PLOW) last issued its earnings results on Monday, August 4th. The auto parts company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.30. The company had revenue of $194.33 million during the quarter, compared to analysts’ expectations of $189.47 million. Douglas Dynamics had a return on equity of 15.16% and a net margin of 11.38%.Douglas Dynamics’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 EPS. Douglas Dynamics has set its FY 2025 guidance at 1.650-2.150 EPS. Equities analysts anticipate that Douglas Dynamics, Inc. will post 1.3 EPS for the current fiscal year.

Douglas Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a dividend of $0.295 per share. The ex-dividend date was Tuesday, September 16th. This represents a $1.18 annualized dividend and a yield of 3.9%. Douglas Dynamics’s dividend payout ratio is currently 42.29%.

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.