Douglas Dynamics (NYSE:PLOW) Shares Gap Down – Here’s What Happened

Shares of Douglas Dynamics, Inc. (NYSE:PLOW) gapped down prior to trading on Tuesday. The stock had previously closed at $39.87, but opened at $37.85. Douglas Dynamics shares last traded at $37.8170, with a volume of 13,703 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Douglas Dynamics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Zacks Research upgraded Douglas Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 2nd. Wall Street Zen cut Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Robert W. Baird decreased their target price on shares of Douglas Dynamics from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Finally, DA Davidson set a $57.00 price target on shares of Douglas Dynamics in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.67.

Douglas Dynamics Stock Down 3.2%

The company has a quick ratio of 1.03, a current ratio of 2.16 and a debt-to-equity ratio of 0.44. The firm has a market cap of $851.98 million, a P/E ratio of 13.37, a PEG ratio of 0.80 and a beta of 1.14. The stock’s 50-day simple moving average is $40.03 and its 200 day simple moving average is $42.98.

Douglas Dynamics (NYSE:PLOW) last issued its quarterly earnings results on Monday, November 2nd. The auto parts company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. Douglas Dynamics had a return on equity of 23.57% and a net margin of 8.71%. The firm had revenue of $218.01 million during the quarter, compared to the consensus estimate of $218.60 million. As a group, research analysts forecast that Douglas Dynamics, Inc. will post 2.86 EPS for the current fiscal year.

Douglas Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, September 15th. Douglas Dynamics’s payout ratio is presently 53.64%.

Hedge Funds Weigh In On Douglas Dynamics

Several institutional investors have recently added to or reduced their stakes in the business. Lakewood Asset Management LLC increased its holdings in shares of Douglas Dynamics by 8.8% during the third quarter. Lakewood Asset Management LLC now owns 5,861 shares of the auto parts company’s stock valued at $230,000 after acquiring an additional 474 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Douglas Dynamics during the second quarter worth approximately $27,000. Swiss National Bank raised its position in shares of Douglas Dynamics by 1.3% during the first quarter. Swiss National Bank now owns 45,600 shares of the auto parts company’s stock worth $1,919,000 after purchasing an additional 600 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Douglas Dynamics by 471.5% in the 3rd quarter. Sterling Capital Management LLC now owns 743 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 613 shares in the last quarter. Finally, Provident Investment Management Inc. lifted its holdings in shares of Douglas Dynamics by 2.9% in the 3rd quarter. Provident Investment Management Inc. now owns 25,135 shares of the auto parts company’s stock worth $987,000 after purchasing an additional 700 shares in the last quarter. 91.85% of the stock is owned by institutional investors and hedge funds.

About Douglas Dynamics

Douglas Dynamics, Inc is a manufacturer of equipment used for snow and ice management. The company’s products are designed for commercial, municipal and residential applications and include snowplows, spreaders, de-icing equipment and related attachments for light-, medium- and heavy-duty trucks.

Its portfolio includes products marketed under brands such as WESTERN, FISHER, BLIZZARD, SnowEx and Henderson. The company offers vehicle-mounted snow and ice control equipment, salt and material spreaders, liquid de-icing systems, truck bodies and other solutions intended to help contractors, municipalities and commercial operators clear roads, parking areas and other paved surfaces.

Founded in 1946, Douglas Dynamics is headquartered in Milwaukee, Wisconsin, and primarily serves customers in North America through equipment dealers, distributors and other commercial channels.