Douglas Dynamics (NYSE:PLOW) Reaches New 1-Year High – Here’s Why

Douglas Dynamics, Inc. (NYSE:PLOW)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $40.67 and last traded at $40.4850, with a volume of 24030 shares trading hands. The stock had previously closed at $40.37.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLOW. Wall Street Zen lowered Douglas Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Douglas Dynamics in a research note on Monday, December 29th. Finally, DA Davidson reaffirmed a “buy” rating and set a $39.00 target price on shares of Douglas Dynamics in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Douglas Dynamics Stock Up 0.1%

The firm has a market capitalization of $930.70 million, a P/E ratio of 22.95, a PEG ratio of 1.35 and a beta of 1.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.09 and a current ratio of 2.01. The stock has a 50 day moving average of $35.05 and a 200-day moving average of $32.67.

Douglas Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, December 16th. Douglas Dynamics’s dividend payout ratio is presently 67.05%.

Institutional Investors Weigh In On Douglas Dynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its position in shares of Douglas Dynamics by 229.9% during the third quarter. CIBC Private Wealth Group LLC now owns 1,204 shares of the auto parts company’s stock worth $38,000 after acquiring an additional 839 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Douglas Dynamics during the 3rd quarter valued at $39,000. EverSource Wealth Advisors LLC lifted its holdings in Douglas Dynamics by 85.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,266 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 583 shares in the last quarter. New York State Teachers Retirement System bought a new position in Douglas Dynamics in the 2nd quarter worth about $61,000. Finally, Tower Research Capital LLC TRC boosted its stake in Douglas Dynamics by 136.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,257 shares of the auto parts company’s stock worth $67,000 after purchasing an additional 1,303 shares during the period. Institutional investors own 91.85% of the company’s stock.

Douglas Dynamics Company Profile

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.