Douglas Dynamics Inc (NYSE:PLOW) declared a quarterly dividend on Thursday, June 6th, NASDAQ reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.273 per share by the auto parts company on Friday, June 28th. This represents a $1.09 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Monday, June 17th.
Douglas Dynamics has increased its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 6 years. Douglas Dynamics has a dividend payout ratio of 51.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Douglas Dynamics to earn $2.24 per share next year, which means the company should continue to be able to cover its $1.09 annual dividend with an expected future payout ratio of 48.7%.
Shares of PLOW traded up $0.17 during midday trading on Wednesday, hitting $37.72. 472 shares of the stock traded hands, compared to its average volume of 89,962. Douglas Dynamics has a 1-year low of $33.54 and a 1-year high of $49.50. The company has a market cap of $849.13 million, a price-to-earnings ratio of 19.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 2.80.
PLOW has been the subject of several analyst reports. Zacks Investment Research raised shares of Douglas Dynamics from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a report on Saturday, March 2nd. TheStreet downgraded shares of Douglas Dynamics from a “b” rating to a “c+” rating in a report on Monday, May 6th. Finally, Craig Hallum boosted their price target on shares of Douglas Dynamics from $43.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 27th.
In other news, insider Andrew Dejana purchased 6,500 shares of Douglas Dynamics stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $38.13 per share, with a total value of $247,845.00. Following the completion of the acquisition, the insider now owns 10,630 shares in the company, valued at approximately $405,321.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Douglas Dynamics Inc (NYSE:PLOW) Plans $0.27 Quarterly Dividend” was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.baseballdailydigest.com/news/2019/06/12/douglas-dynamics-inc-nyseplow-plans-0-27-quarterly-dividend.html.
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.
Featured Story: What is a conference call?
Receive News & Ratings for Douglas Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.