Douglas Dynamics (NYSE:PLOW) Reaches New 52-Week Low - Here's What Happened

Shares of Douglas Dynamics, Inc. (NYSE:PLOW - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.50 and last traded at $23.93, with a volume of 173040 shares. The stock had previously closed at $24.04.

Wall Street Analysts Forecast Growth

PLOW has been the subject of a number of recent analyst reports. DA Davidson restated a "buy" rating and issued a $32.00 price objective on shares of Douglas Dynamics in a research report on Tuesday, February 25th. StockNews.com raised shares of Douglas Dynamics from a "hold" rating to a "buy" rating in a report on Wednesday, February 26th.

Douglas Dynamics Stock Performance

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 50-day moving average price of $23.97 and a two-hundred day moving average price of $24.66. The firm has a market cap of $595.93 million, a PE ratio of 11.21, a P/E/G ratio of 1.14 and a beta of 1.25.

Douglas Dynamics (NYSE:PLOW - Get Free Report) last announced its earnings results on Monday, May 5th. The auto parts company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.25. The company had revenue of $115.07 million for the quarter, compared to analysts' expectations of $107.80 million. Douglas Dynamics had a net margin of 9.89% and a return on equity of 12.68%. The firm's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.29) EPS. Research analysts forecast that Douglas Dynamics, Inc. will post 1.3 EPS for the current fiscal year.

Douglas Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Tuesday, March 18th. Douglas Dynamics's dividend payout ratio is currently 50.43%.

Hedge Funds Weigh In On Douglas Dynamics

A number of institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Douglas Dynamics in the 4th quarter worth $49,000. US Bancorp DE increased its position in Douglas Dynamics by 15.6% during the fourth quarter. US Bancorp DE now owns 3,052 shares of the auto parts company's stock worth $72,000 after purchasing an additional 413 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Douglas Dynamics during the fourth quarter worth about $111,000. CWM LLC boosted its holdings in Douglas Dynamics by 24.2% in the 1st quarter. CWM LLC now owns 5,400 shares of the auto parts company's stock valued at $125,000 after purchasing an additional 1,052 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Douglas Dynamics in the 4th quarter valued at approximately $153,000. Hedge funds and other institutional investors own 91.85% of the company's stock.

About Douglas Dynamics

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.