JPMorgan Amends Douglas Dynamics Stake (SC 13G/A)

TL;DR

**JPMorgan just updated its stake in Douglas Dynamics; keep an eye on institutional movements.**

AI Summary

JPMorgan Chase & Co. filed an amended Schedule 13G/A on January 18, 2024, indicating a change in their beneficial ownership of Douglas Dynamics, Inc. common stock as of December 29, 2023. This filing, Amendment No. 14, updates their previous disclosures regarding their stake in the construction machinery and equipment company. This matters to investors because it shows a significant institutional investor, JPMorgan, is adjusting its position, which can signal their evolving outlook on Douglas Dynamics' future performance.

Why It Matters

This filing reveals that a major financial institution, JPMorgan Chase & Co., has updated its ownership position in Douglas Dynamics, Inc., which can influence investor sentiment and potentially the stock's trading activity.

Risk Assessment

Risk Level: low — This filing is a routine update of institutional ownership and does not inherently signal high risk, but rather transparency.

Analyst Insight

Investors should note that a major institution like JPMorgan is adjusting its position in Douglas Dynamics. While this filing doesn't disclose the exact change in share count, it signals active management of their investment. Smart investors might look for the full details of the ownership change in the complete filing to understand the magnitude and direction of JPMorgan's adjustment, and consider if it aligns with their own investment thesis for Douglas Dynamics.

Key Players & Entities

• JPMorgan Chase & Co. (company) — the entity filing the SC 13G/A, reporting its beneficial ownership
• Douglas Dynamics, Inc. (company) — the subject company whose common stock is being reported
• December 29, 2023 (date) — the date of the event requiring the filing of this statement
• January 18, 2024 (date) — the date the SC 13G/A was filed
• Amendment No. 14 (number) — the specific amendment number of this Schedule 13G filing

FAQ

Filing Documents

• DOUGLAS_DYNAMICS_INC.htm (SC 13G/A) — 86KB
• 0000019617-24-000103.txt ( ) — 88KB

From the Filing

SC 13G/A 1 DOUGLAS_DYNAMICS_INC.htm FILING DOUGLAS DYNAMICS, INC. Schedule 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 14 )* DOUGLAS DYNAMICS, INC. (Name of Issuer) Common Stock, par value $.01 per share (Title of Class of Securities) 25960R105 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) o Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 25960R105 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JPMORGAN CHASE & CO. 13-2624428 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 1,805,345 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 1,904,672 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,904,672 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.2 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES Item 1. (a) Name of Issuer DOUGLAS DYNAMICS, INC. (b) Address of Issuer's Principal Executive Offices 11270 W Park Place Ste 300, Milwaukee, Wisconsin 53224 Item 2. (a) Name of Person Filing JPMORGAN CHASE & CO. (b) Address of Principal Business Office or, if none, Residence 383 Madison Avenue New York, NY 10179 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock, par value $.01 per share (e) CUSIP Number 25960R105 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) x A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) o A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) o A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 1,904,672 (b) Percent of class: 8.2 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,805,345 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,904,672 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o . Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company JPMorgan Chase Bank, National Association J.P. Morgan Investment Management Inc. 55I, LLC J.P.