Douglas Dynamics (PLOW) Shares Down 9.3% on Disappointing Earnings

Douglas Dynamics Inc (NYSE:PLOW) was down 9.3% on Tuesday following a weaker than expected earnings announcement. The company traded as low as $36.40 and last traded at $39.01. Approximately 604,086 shares traded hands during trading, an increase of 564% from the average daily volume of 91,011 shares. The stock had previously closed at $43.00.

The auto parts company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Douglas Dynamics had a return on equity of 16.07% and a net margin of 12.36%. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $125.37 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. Douglas Dynamics’s revenue for the quarter was down .4% on a year-over-year basis.

Separately, Zacks Investment Research cut Douglas Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, August 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Douglas Dynamics currently has a consensus rating of “Buy” and a consensus target price of $47.67.

In other Douglas Dynamics news, insider Jonathon P. Sievert sold 1,200 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $43.30, for a total transaction of $51,960.00. Following the transaction, the insider now directly owns 9,884 shares in the company, valued at approximately $427,977.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman James L. Janik sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $44.89, for a total value of $1,122,250.00. Following the transaction, the chairman now owns 239,030 shares in the company, valued at $10,730,056.70. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of PLOW. Conestoga Capital Advisors LLC lifted its stake in Douglas Dynamics by 71.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,274,489 shares of the auto parts company’s stock valued at $55,950,000 after acquiring an additional 533,004 shares in the last quarter. BlackRock Inc. raised its stake in shares of Douglas Dynamics by 6.7% during the 2nd quarter. BlackRock Inc. now owns 1,535,447 shares of the auto parts company’s stock worth $73,700,000 after purchasing an additional 96,261 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Douglas Dynamics by 852.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 46,873 shares of the auto parts company’s stock worth $224,000 after purchasing an additional 41,953 shares during the period. First Trust Advisors LP raised its stake in shares of Douglas Dynamics by 60.1% during the 2nd quarter. First Trust Advisors LP now owns 95,396 shares of the auto parts company’s stock worth $4,579,000 after purchasing an additional 35,811 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Douglas Dynamics by 12.5% during the 2nd quarter. Systematic Financial Management LP now owns 310,697 shares of the auto parts company’s stock worth $14,913,000 after purchasing an additional 34,564 shares during the period. Institutional investors and hedge funds own 90.58% of the company’s stock.

The company has a market capitalization of $996.94 million, a P/E ratio of 28.68 and a beta of 1.04. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.77 and a quick ratio of 1.98.

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About Douglas Dynamics (NYSE:PLOW)

Douglas Dynamics, Inc operates as a manufacturer and up-fitter 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.

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