Douglas Dynamics Inc (NYSE:PLOW) to Issue $0.28 Quarterly Dividend

Douglas Dynamics Inc (NYSE:PLOW) announced a quarterly dividend on Thursday, September 3rd, Zacks reports. Investors of record on Friday, September 18th will be paid a dividend of 0.28 per share by the auto parts company on Wednesday, September 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, September 17th.

Douglas Dynamics has raised its dividend by 16.0% over the last three years and has raised its dividend annually for the last 1 consecutive years. Douglas Dynamics has a payout ratio of 114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Douglas Dynamics to earn $1.68 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 66.7%.

PLOW stock opened at $37.97 on Wednesday. The company’s 50 day moving average price is $38.67 and its 200 day moving average price is $35.91. The firm has a market capitalization of $867.88 million, a price-to-earnings ratio of -9.59 and a beta of 0.85. Douglas Dynamics has a fifty-two week low of $24.12 and a fifty-two week high of $56.89. The company has a debt-to-equity ratio of 1.44, a quick ratio of 2.03 and a current ratio of 3.89.

Douglas Dynamics (NYSE:PLOW) last posted its quarterly earnings results on Monday, August 3rd. The auto parts company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.18 by $0.15. Douglas Dynamics had a negative net margin of 18.34% and a positive return on equity of 9.83%. The company had revenue of $120.04 million during the quarter, compared to analysts’ expectations of $111.27 million. During the same quarter in the previous year, the business posted $1.14 EPS. The firm’s revenue was down 31.9% on a year-over-year basis. Equities analysts forecast that Douglas Dynamics will post 0.94 EPS for the current fiscal year.

Separately, Zacks Investment Research lowered Douglas Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.75.

About Douglas Dynamics

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment primarily in North America. It operates in two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light and heavy duty trucks, as well as various related parts and accessories.

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Dividend History for Douglas Dynamics (NYSE:PLOW)

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