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

Shares of Douglas Dynamics, Inc. (NYSE:PLOW) gapped down before the market opened on Monday . The stock had previously closed at $44.13, but opened at $40.01. Douglas Dynamics shares last traded at $40.3150, with a volume of 136,244 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on PLOW. DA Davidson upped their price target on shares of Douglas Dynamics from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Zacks Research cut shares of Douglas Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Robert W. Baird set a $56.00 target price on shares of Douglas Dynamics in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Douglas Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings cut shares of Douglas Dynamics from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.67.

Douglas Dynamics Stock Down 9.5%

The stock has a fifty day moving average of $46.56 and a 200-day moving average of $43.98. The firm has a market capitalization of $923.60 million, a price-to-earnings ratio of 18.06, a PEG ratio of 1.05 and a beta of 1.20. The company has a current ratio of 2.65, a quick ratio of 0.77 and a debt-to-equity ratio of 0.48.

Douglas Dynamics (NYSE:PLOW) last announced its earnings results on Monday, August 3rd. The auto parts company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. Douglas Dynamics had a return on equity of 19.72% and a net margin of 7.83%.The business had revenue of $214.65 million during the quarter, compared to the consensus estimate of $219.45 million. As a group, sell-side analysts expect that Douglas Dynamics, Inc. will post 2.62 EPS for the current year.

Douglas Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Douglas Dynamics’s payout ratio is presently 53.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wilson Asset Management International PTY Ltd. purchased a new stake in shares of Douglas Dynamics in the 4th quarter valued at approximately $653,000. Systematic Financial Management LP grew its position in Douglas Dynamics by 7.8% during the 4th quarter. Systematic Financial Management LP now owns 334,028 shares of the auto parts company’s stock worth $10,906,000 after purchasing an additional 24,055 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Douglas Dynamics during the 3rd quarter worth approximately $3,617,000. Icon Advisers Inc. Co. purchased a new position in Douglas Dynamics during the 1st quarter worth approximately $8,717,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Douglas Dynamics by 128.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 538,669 shares of the auto parts company’s stock valued at $22,673,000 after purchasing an additional 303,077 shares during the period. 91.85% of the stock is currently owned by institutional investors and hedge funds.

About Douglas Dynamics

Douglas Dynamics, Inc is a leading designer, manufacturer and distributor of snow and ice removal equipment for commercial, municipal and residential markets. The company’s product portfolio encompasses a wide range of truck-mounted plows, spreaders, salt brine systems and related accessories engineered to perform in challenging winter conditions. Its offerings cater to professional snow contractors, government agencies and retail customers seeking reliable solutions for snow and ice management.

Douglas Dynamics markets its products under several well-known brands, including Fisher Engineering, Western Products, Hiniker Company and Buyers Products.