Douglas Dynamics, Inc. (PLOW) To Go Ex-Dividend on September 18th
Douglas Dynamics, Inc. (NYSE:PLOW) declared a quarterly dividend on Friday, September 8th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Monday, September 18th.
Douglas Dynamics has raised its dividend by an average of 4.0% annually 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% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
Douglas Dynamics (NYSE PLOW) opened at 36.45 on Friday. The firm has a 50-day moving average price of $34.07 and a 200-day moving average price of $31.78. Douglas Dynamics has a 12-month low of $25.23 and a 12-month high of $38.80. The company has a market cap of $823.41 million, a P/E ratio of 28.93 and a beta of 1.11.
Douglas Dynamics (NYSE:PLOW) last issued its earnings results on Monday, August 7th. The auto parts company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.11. The business had revenue of $139.40 million during 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. On average, equities research analysts forecast that Douglas Dynamics will post $1.50 earnings per share for the current fiscal year.
Several research analysts have recently commented on PLOW shares. Oppenheimer Holdings, Inc. dropped coverage on Douglas Dynamics in a research report on Thursday, June 22nd. Zacks Investment Research raised Douglas Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Saturday, August 12th. Finally, BidaskClub raised Douglas Dynamics from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Douglas Dynamics has an average rating of “Buy” and a consensus price target of $40.00.
In other news, Chairman James L. Janik sold 20,000 shares of the business’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 completion of the transaction, the chairman now directly owns 322,790 shares of the company’s stock, valued at approximately $11,307,333.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.
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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