Punch Associates Investment Management buys $13,148,118 stake in Douglas Dynamics Inc (PLOW)

Douglas Dynamics Inc (PLOW) : Punch Associates Investment Management scooped up 71,093 additional shares in Douglas Dynamics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 25, 2016. The investment management firm now holds a total of 573,903 shares of Douglas Dynamics Inc which is valued at $13,148,118.Douglas Dynamics Inc makes up approximately 1.58% of Punch Associates Investment Management’s portfolio.

Douglas Dynamics Inc closed down -0.28 points or -1.22% at $22.63 with 1,36,605 shares getting traded on Monday. Post opening the session at $23.06, the shares hit an intraday low of $22.605 and an intraday high of $23.06 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Acadian Asset Management reduced its stake in PLOW by selling 176,355 shares or 90.1% in the most recent quarter. The Hedge Fund company now holds 19,374 shares of PLOW which is valued at $439,209.

On the company’s financial health, Douglas Dynamics Inc reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Mar 7, 2016. Analyst had a consensus of $0.56. The company had revenue of $118.80 million for the quarter, compared to analysts expectations of $118.25 million. The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Douglas Dynamics Inc. Seaport Global Securities Initiated Douglas Dynamics Inc on Apr 20, 2016 to “Neutral”, Price Target of the shares are set at $24.Sidoti Initiated Douglas Dynamics Inc on Mar 3, 2016 to “Buy”, Price Target of the shares are set at $25.

Douglas Dynamics Inc. is a manufacturer of vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD FISHER SNOWEX and WESTERN brands turf care equipment under the TURFEX brand and industrial maintenance equipment under the SWEEPEX brand. The Company’s product offerings primarily consist of snow and ice control products and accessories. The Company offers a range of snowplows and sand and salt spreaders for light trucks. It also provides a range of related parts and accessories. The Company also provides customized turnkey solutions to governmental agencies such as Departments of Transportation (DOTs) and municipalities. The Company sells its products through a distributor network primarily to professional snowplowers who are contracted to remove snow and ice from commercial municipal and residential areas. The Company’s distribution network worldwide consists of over 2200 points of sale.

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