Should You Hold Douglas Dynamics (PLOW)?
Conestoga Capital Advisors, an asset management company, released its “Small Cap Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The Small Cap Composite rose 12.26% net of fees in the first quarter, compared to the Russell 2000 Growth Index’s 6.07% return. In addition to positive stock selection, rebound by many of the higher-growth stocks, which detracted in 2022, and an underweight exposure to the weakest performing sectors of the Index benefitted the strategy in Q1. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Conestoga Small Cap Strategy highlighted stocks like Douglas Dynamics, Inc. (NYSE:PLOW) in the first quarter 2023 investor letter. Headquartered in Milwaukee, Wisconsin, Douglas Dynamics, Inc. (NYSE:PLOW) is a manufacturer and up fitter of commercial work truck attachments. On May 24, 2023, Douglas Dynamics, Inc. (NYSE:PLOW) stock closed at $29.75 per share. One-month return of Douglas Dynamics, Inc. (NYSE:PLOW) was 0.88%, and its shares lost 2.71% of their value over the last 52 weeks. Douglas Dynamics, Inc. (NYSE:PLOW) has a market capitalization of $683.774 million.
Conestoga Small Cap Strategy made the following comment about Douglas Dynamics, Inc. (NYSE:PLOW) in its Q1 2023 investor letter:
"Douglas Dynamics, Inc. (NYSE:PLOW): PLOW is the nation’s largest manufacturer of work truck attachments for snow and ice management, as well as one of the largest up-fitters/ installers of work truck attachments. The lack of snowstorms in the Northeast impacted profits in the company’s core snow and ice business. We are closely monitoring the company’s results and evaluating its position in client portfolios.”
Pixabay/Public Domain
Douglas Dynamics, Inc. (NYSE:PLOW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Douglas Dynamics, Inc. (NYSE:PLOW) at the end of the first quarter 2023 which was 8 in the previous quarter.
We discussed Douglas Dynamics, Inc. (NYSE:PLOW) in another article and shared Heartland Advisors' views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
