Douglas Dynamics, Inc. (PLOW) Sets New 52-Week High at $40.80
Douglas Dynamics, Inc. (NYSE:PLOW) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.80 and last traded at $40.90, with a volume of 52,839 shares. The stock had previously closed at $40.10.
A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of Douglas Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Saturday, August 12th. Finally, Oppenheimer Holdings, Inc. dropped coverage on shares of Douglas Dynamics in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Douglas Dynamics currently has a consensus rating of “Buy” and a consensus price target of $40.00.
The stock has a market cap of $919.41 million, a PE ratio of 32.30 and a beta of 1.13. The stock has a 50 day moving average price of $36.44 and a 200 day moving average price of $32.49.
Douglas Dynamics (NYSE:PLOW) last announced its quarterly 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. Douglas Dynamics had a return on equity of 14.96% and a net margin of 6.16%. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $132.33 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. Analysts predict that Douglas Dynamics, Inc. will post $1.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, September 18th. Douglas Dynamics’s dividend payout ratio is presently 76.19%.
In other news, Chairman James L. Janik sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $35.03, for a total transaction of $700,600.00. Following the completion of the transaction, the chairman now owns 322,790 shares of the company’s stock, valued at $11,307,333.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sarah C. Lauber acquired 1,250 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were acquired at an average cost of $36.04 per share, with a total value of $45,050.00. Following the acquisition, the chief financial officer now directly owns 1,250 shares of the company’s stock, valued at approximately $45,050. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. grew its holdings in shares of Douglas Dynamics by 7.1% during the first quarter. American International Group Inc. now owns 13,622 shares of the auto parts company’s stock worth $418,000 after purchasing an additional 900 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Douglas Dynamics during the first quarter worth about $275,000. Goldman Sachs Group Inc. grew its holdings in shares of Douglas Dynamics by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 16,323 shares of the auto parts company’s stock worth $500,000 after purchasing an additional 255 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Douglas Dynamics by 29.7% during the second quarter. Lazard Asset Management LLC now owns 545,674 shares of the auto parts company’s stock worth $17,952,000 after purchasing an additional 125,000 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Douglas Dynamics during the first quarter worth about $4,428,000. 89.31% of the stock is owned by institutional investors.
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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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