Douglas Dynamics (NYSE:PLOW) Shares Gap Up Following Better-Than-Expected Earnings

Douglas Dynamics, Inc. (NYSE:PLOW) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $26.41, but opened at $29.03. Douglas Dynamics shares last traded at $29.63, with a volume of 57,195 shares.

The auto parts company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.48. Douglas Dynamics had a return on equity of 12.95% and a net margin of 4.90%. The firm had revenue of $199.90 million for the quarter, compared to the consensus estimate of $181.30 million. During the same quarter in the previous year, the company posted $1.00 earnings per share.

Douglas Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were given a $0.295 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.98%. Douglas Dynamics’s dividend payout ratio is currently 100.86%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $25.00 price target (down previously from $36.00) on shares of Douglas Dynamics in a research report on Monday, April 8th. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price target on shares of Douglas Dynamics in a research report on Tuesday, April 30th.

Hedge Funds Weigh In On Douglas Dynamics

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Douglas Dynamics by 0.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,383,611 shares of the auto parts company’s stock worth $55,776,000 after buying an additional 8,931 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Douglas Dynamics by 16.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,191,913 shares of the auto parts company’s stock valued at $65,056,000 after purchasing an additional 311,799 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Douglas Dynamics by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 902,805 shares of the auto parts company’s stock valued at $26,796,000 after purchasing an additional 8,194 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Douglas Dynamics by 0.8% during the 1st quarter. William Blair Investment Management LLC now owns 848,403 shares of the auto parts company’s stock valued at $20,463,000 after purchasing an additional 6,634 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Douglas Dynamics by 18.5% during the 4th quarter. Wellington Management Group LLP now owns 308,107 shares of the auto parts company’s stock valued at $9,145,000 after purchasing an additional 48,189 shares in the last quarter. 91.85% of the stock is owned by institutional investors and hedge funds.

Douglas Dynamics Price Performance

The stock has a market capitalization of $684.16 million, a price-to-earnings ratio of 24.62, a PEG ratio of 1.44 and a beta of 1.17. The company has a current ratio of 2.06, a quick ratio of 0.60 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $23.91 and a two-hundred day moving average of $24.24.

Douglas Dynamics Company Profile

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through 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 trucks and heavy duty trucks, as well as various related parts and accessories.