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Here’s Why Douglas Dynamics (PLOW) Fell in Q1

Soumya Eswaran
·2 min read

Diamond Hill Capital, an investment management company, released its “Small Cap Fund” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. The market delivered positive returns in a volatile first quarter across most regions. Diamond Hill Small Cap Fund outperformed its benchmark, the Russell 2000 Index, in Q1 and returned 7.11% while the benchmark return was 5.18% during the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Diamond Hill Small Cap Fund featured stocks like Douglas Dynamics, Inc. (NYSE:PLOW) in the Q1 2024 investor letter. Established in 1948, Douglas Dynamics, Inc. (NYSE:PLOW) is a manufacturer and upfitter of commercial work truck attachments and equipment. On May 14, 2024, Douglas Dynamics, Inc. (NYSE:PLOW) stock closed at $25.62 per share. One-month return of Douglas Dynamics, Inc. (NYSE:PLOW) was 17.47%, and its shares lost 10.89% of their value over the last 52 weeks. Douglas Dynamics, Inc. (NYSE:PLOW) has a market capitalization of $591.668 million.

Diamond Hill Small Cap Fund stated the following regarding Douglas Dynamics, Inc. (NYSE:PLOW) in its first quarter 2024 investor letter:

"Other bottom Q1 contributors included Centrus Energy and Douglas Dynamics, Inc. (NYSE:PLOW). Work truck attachments manufacturer Douglas Dynamics faced a slow start to the 2023-2024 snow season, which weighed on demand for its snow attachments."

An upfitted commercial work truck parked in a municipal office parking lot.

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Douglas Dynamics, Inc. (NYSE:PLOW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held Douglas Dynamics, Inc. (NYSE:PLOW) at the end of the fourth quarter which was 8 in the previous quarter.

We discussed Douglas Dynamics, Inc. (NYSE:PLOW) in another article and shared Conestoga Capital Advisors' views on the company. Douglas Dynamics, Inc. (NYSE:PLOW) stock declined in the previous quarter due to decreased pre-season orders considering last season's record low snowfall. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.