Douglas Dynamics, Inc. (NYSE:PLOW) declared a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Stockholders of record on Tuesday, September 19th will be given a dividend of 0.24 per share by the auto parts company on Friday, September 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, September 18th.
Douglas Dynamics has increased its dividend payment by an average of 4.0% per year over the last three years and has increased its dividend every year for the last 4 years. Douglas Dynamics has a dividend payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Douglas Dynamics to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 53.9%.
Shares of Douglas Dynamics (PLOW) opened at 35.80 on Wednesday. The firm has a market capitalization of $808.72 million, a price-to-earnings ratio of 28.41 and a beta of 1.11. Douglas Dynamics has a 1-year low of $25.23 and a 1-year high of $37.50. The company’s 50-day moving average is $33.64 and its 200 day moving average is $31.69.
Douglas Dynamics (NYSE:PLOW) last posted its quarterly earnings data on Monday, August 7th. The auto parts company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. The firm had revenue of $139.40 million during the quarter, compared to analysts’ expectations of $132.33 million. Douglas Dynamics had a net margin of 6.16% and a return on equity of 14.96%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 EPS. On average, analysts expect that Douglas Dynamics will post $1.50 EPS for the current fiscal year.
In other news, Chairman James L. Janik sold 20,000 shares of Douglas Dynamics stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $35.03, for a total transaction of $700,600.00. Following the completion of the sale, the chairman now owns 322,790 shares in the company, valued at approximately $11,307,333.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.20% of the stock is owned by insiders.
Several equities research analysts have recently commented on PLOW shares. Oppenheimer Holdings, Inc. dropped coverage on shares of Douglas Dynamics in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Douglas Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, BidaskClub cut shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.00.
About Douglas Dynamics
Douglas Dynamics, Inc is a manufacturer and up-fitter of commercial vehicle attachments and equipment. The Company’s portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, HENDERSON, SNOWEX and WESTERN brands, turf care equipment under the TURFEX brand and industrial maintenance equipment under the SWEEPEX brand.
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