Zacks Investment Research downgraded shares of Douglas Dynamics (NYSE:PLOW) from a buy rating to a hold rating in a report released on Saturday morning.
According to Zacks, “Douglas Dynamics, Inc. designs, manufactures and sells snow and ice control equipment for light trucks, which is comprised of snowplows and sand and salt spreaders, and related parts and accessories. The Company sells its products under the WESTERN(R), FISHER(R) and BLIZZARD(R) brands through a distributor network, primarily consisting of truck equipment distributors located throughout the Midwest, East and Northeast regions of the United States as well as all provinces of Canada. It sells its products primarily to professional snowplowers who are contracted to remove snow and ice from commercial, municipal and residential areas. Douglas Dynamics, Inc. is headquartered in Milwaukee, Wisconsin. “
Shares of Douglas Dynamics traded down $0.40, hitting $43.30, during mid-day trading on Friday, according to Marketbeat. The company’s stock had a trading volume of 131,682 shares, compared to its average volume of 85,791. The stock has a market capitalization of $987.22 million, a P/E ratio of 31.84, a P/E/G ratio of 1.40 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.77 and a quick ratio of 1.40. Douglas Dynamics has a fifty-two week low of $31.65 and a fifty-two week high of $49.50.
Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its stake in Douglas Dynamics by 308.4% during the second quarter. Citadel Advisors LLC now owns 35,147 shares of the auto parts company’s stock worth $1,687,000 after buying an additional 26,540 shares in the last quarter. FMR LLC boosted its stake in Douglas Dynamics by 1.1% during the second quarter. FMR LLC now owns 757,561 shares of the auto parts company’s stock worth $36,363,000 after buying an additional 8,029 shares in the last quarter. BlackRock Inc. boosted its stake in Douglas Dynamics by 6.7% during the second quarter. BlackRock Inc. now owns 1,535,447 shares of the auto parts company’s stock worth $73,700,000 after buying an additional 96,261 shares in the last quarter. Cadence Capital Management LLC boosted its stake in Douglas Dynamics by 12.1% during the second quarter. Cadence Capital Management LLC now owns 57,384 shares of the auto parts company’s stock worth $2,754,000 after buying an additional 6,214 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Douglas Dynamics during the second quarter worth $553,000. 89.85% of the stock is currently owned by institutional investors.
Douglas Dynamics Company Profile
Douglas Dynamics, Inc operates as a manufacturer and up-fitter of commercial work truck attachments and equipment primarily in North America. It operates in 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 and heavy duty trucks, as well as various related parts and accessories.
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