Victory Capital Management Inc. Reduces Stock Position in Douglas Dynamics, Inc. (NYSE:PLOW)

Posted by Defense World Staff on May 30th, 2023

Victory Capital Management Inc. lessened its stake in shares of Douglas Dynamics, Inc. (NYSE:PLOW – Get Rating) by 70.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,838 shares of the auto parts company’s stock after selling 145,332 shares during the quarter. Victory Capital Management Inc. owned approximately 0.27% of Douglas Dynamics worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLOW. Natixis Advisors L.P. grew its holdings in shares of Douglas Dynamics by 1.1% during the 1st quarter. Natixis Advisors L.P. now owns 32,297 shares of the auto parts company’s stock worth $1,117,000 after purchasing an additional 348 shares during the period. Legal & General Group Plc grew its holdings in shares of Douglas Dynamics by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 10,586 shares of the auto parts company’s stock worth $304,000 after purchasing an additional 375 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Douglas Dynamics by 8.2% during the 1st quarter. Raymond James Trust N.A. now owns 5,946 shares of the auto parts company’s stock worth $206,000 after purchasing an additional 452 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Douglas Dynamics by 2.0% during the 1st quarter. Baird Financial Group Inc. now owns 38,482 shares of the auto parts company’s stock worth $1,331,000 after purchasing an additional 755 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Douglas Dynamics by 8.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,398 shares of the auto parts company’s stock worth $291,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Douglas Dynamics Stock Performance

Douglas Dynamics stock opened at $29.17 on Tuesday. The stock’s 50 day moving average price is $29.54 and its 200 day moving average price is $34.76. The firm has a market capitalization of $670.33 million, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 2.16. Douglas Dynamics, Inc. has a one year low of $25.49 and a one year high of $41.40.

Analyst Ratings Changes

PLOW has been the topic of several recent research reports. DA Davidson reduced their price target on Douglas Dynamics from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. StockNews.com initiated coverage on Douglas Dynamics in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Robert W. Baird reduced their price target on Douglas Dynamics from $48.00 to $46.00 in a research report on Tuesday, April 18th.

Insider Buying and Selling at Douglas Dynamics

In other Douglas Dynamics news, Director James L. Janik bought 6,929 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average cost of $26.99 per share, with a total value of $187,013.71. Following the transaction, the director now directly owns 120,862 shares in the company, valued at approximately $3,262,065.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Douglas Dynamics news, CFO Sarah C. Lauber sold 3,757 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $36.66, for a total value of $137,731.62. Following the transaction, the chief financial officer now directly owns 32,202 shares of the company’s stock, valued at approximately $1,180,525.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James L. Janik purchased 6,929 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were purchased at an average cost of $26.99 per share, for a total transaction of $187,013.71. Following the completion of the transaction, the director now owns 120,862 shares in the company, valued at approximately $3,262,065.38. The disclosure for this purchase can be found here. Insiders have sold a total of 14,416 shares of company stock valued at $528,098 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Douglas Dynamics Company Profile

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Douglas Dynamics, Inc engages in the manufacture of commercial work truck attachments and equipment. It operates through the following segments: Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segments include manufactured snow and ice control attachments sold under FISHER, HENDERSON, SNOWEX and WESTERN brands.