Douglas Dynamics, Inc. Declares Quarterly Dividend of $0.24 (PLOW)
Douglas Dynamics, Inc. (NYSE:PLOW) announced a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Shareholders of record on Tuesday, September 19th will be paid 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 yield of 2.76%. The ex-dividend date of this dividend is Monday, September 18th.
Douglas Dynamics has raised its dividend payment by an average of 4.0% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Douglas Dynamics has a dividend payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Douglas Dynamics to earn $1.83 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 52.5%.
Shares of Douglas Dynamics (NYSE PLOW) traded down 0.29% during midday trading on Friday, reaching $34.75. 121,299 shares of the company’s stock traded hands. Douglas Dynamics has a 52 week low of $25.23 and a 52 week high of $37.50. The company has a market capitalization of $785.00 million, a PE ratio of 27.58 and a beta of 1.11. The stock’s 50 day moving average is $33.45 and its 200-day moving average is $31.68.
Douglas Dynamics (NYSE:PLOW) last posted its earnings results on Monday, August 7th. The auto parts company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.11. The company had revenue of $139.40 million for the quarter, compared to analyst estimates of $132.33 million. Douglas Dynamics had a return on equity of 14.96% and a net margin of 6.16%. Douglas Dynamics’s revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, analysts forecast that Douglas Dynamics will post $1.50 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. BidaskClub raised Douglas Dynamics from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Zacks Investment Research raised Douglas Dynamics from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Saturday, August 12th. Finally, Oppenheimer Holdings Inc. dropped coverage on Douglas Dynamics in a report on Thursday, June 22nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Douglas Dynamics presently has an average rating of “Buy” and a consensus target price of $40.00.
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In other Douglas Dynamics news, Chairman James L. Janik sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $35.03, for a total value of $700,600.00. Following the sale, the chairman now owns 322,790 shares of the company’s stock, valued at $11,307,333.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.
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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