Wellington Management Group LLP Cuts Stake in Douglas Dynamics, Inc. (NYSE:PLOW)

Wellington Management Group LLP lessened its stake in Douglas Dynamics, Inc. (NYSE:PLOW) by 15.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 279,601 shares of the auto parts company’s stock after selling 51,306 shares during the quarter. Wellington Management Group LLP’s holdings in Douglas Dynamics were worth $7,711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its stake in Douglas Dynamics by 88.6% during the third quarter. FMR LLC now owns 2,616 shares of the auto parts company’s stock valued at $72,000 after buying an additional 1,229 shares during the last quarter. CWM LLC raised its holdings in shares of Douglas Dynamics by 20,250.0% during the 2nd quarter. CWM LLC now owns 2,849 shares of the auto parts company’s stock worth $67,000 after acquiring an additional 2,835 shares in the last quarter. Blue Trust Inc. bought a new position in shares of Douglas Dynamics during the 2nd quarter valued at approximately $100,000. Quest Partners LLC purchased a new position in shares of Douglas Dynamics in the third quarter valued at $118,000. Finally, SG Americas Securities LLC bought a new stake in Douglas Dynamics in the second quarter worth $117,000. Institutional investors own 91.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PLOW shares. StockNews.com cut shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird dropped their price target on Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Douglas Dynamics Stock Performance

NYSE:PLOW opened at $25.08 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.14. The stock’s fifty day moving average is $25.45 and its 200 day moving average is $25.68. The firm has a market capitalization of $579.10 million, a PE ratio of 10.90, a PEG ratio of 1.40 and a beta of 1.20. Douglas Dynamics, Inc. has a fifty-two week low of $21.31 and a fifty-two week high of $30.98.

Douglas Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.295 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.18 annualized dividend and a dividend yield of 4.70%. Douglas Dynamics’s dividend payout ratio (DPR) is presently 51.30%.

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.