Douglas Dynamics, Inc. Plans Quarterly Dividend of $0.30 (NYSE:PLOW)

Douglas Dynamics, Inc. (NYSE:PLOW) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be paid a dividend of 0.295 per share by the auto parts company on Monday, March 31st. This represents a $1.18 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend is Tuesday, March 18th.

Douglas Dynamics has raised its dividend payment by an average of 1.2% annually over the last three years. Douglas Dynamics has a payout ratio of 50.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Douglas Dynamics to earn $1.64 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 72.0%.

Douglas Dynamics Stock Up 2.5 %

PLOW stock traded up $0.68 during midday trading on Wednesday, hitting $27.59. The company’s stock had a trading volume of 266,895 shares, compared to its average volume of 161,735. Douglas Dynamics has a 52-week low of $21.31 and a 52-week high of $30.98. The company has a quick ratio of 1.13, a current ratio of 2.14 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $637.16 million, a P/E ratio of 12.00, a PEG ratio of 1.14 and a beta of 1.21. The firm has a 50-day simple moving average of $24.87 and a 200-day simple moving average of $25.83.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLOW shares. Robert W. Baird decreased their price target on Douglas Dynamics from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of Douglas Dynamics in a research note on Tuesday.

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.