Intrinsic value of Douglas Dynamics - PLOW

Previous Close

$38.20

  Intrinsic Value

$55.94

stock screener

  Rating & Target

buy

+46%

Previous close

$38.20

 
Intrinsic value

$55.94

 
Up/down potential

+46%

 
Rating

buy

We calculate the intrinsic value of PLOW stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  17.30
  16.07
  14.96
  13.97
  13.07
  12.26
  11.54
  10.88
  10.29
  9.77
  9.29
  8.86
  8.47
  8.13
  7.81
  7.53
  7.28
  7.05
  6.85
  6.66
  6.50
  6.35
  6.21
  6.09
  5.98
  5.88
  5.79
  5.72
  5.64
  5.58
Revenue, $m
  557
  647
  743
  847
  958
  1,075
  1,199
  1,330
  1,467
  1,610
  1,760
  1,916
  2,078
  2,247
  2,422
  2,605
  2,794
  2,992
  3,196
  3,409
  3,631
  3,861
  4,101
  4,351
  4,611
  4,882
  5,165
  5,460
  5,768
  6,090
Variable operating expenses, $m
  444
  509
  579
  654
  733
  818
  908
  1,002
  1,100
  1,204
  1,269
  1,381
  1,498
  1,620
  1,747
  1,878
  2,015
  2,157
  2,305
  2,458
  2,618
  2,784
  2,957
  3,137
  3,325
  3,520
  3,724
  3,937
  4,159
  4,391
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  444
  509
  579
  654
  733
  818
  908
  1,002
  1,100
  1,204
  1,269
  1,381
  1,498
  1,620
  1,747
  1,878
  2,015
  2,157
  2,305
  2,458
  2,618
  2,784
  2,957
  3,137
  3,325
  3,520
  3,724
  3,937
  4,159
  4,391
Operating income, $m
  113
  138
  165
  194
  224
  257
  292
  328
  366
  406
  491
  534
  580
  627
  676
  727
  779
  834
  892
  951
  1,013
  1,077
  1,144
  1,214
  1,286
  1,362
  1,441
  1,523
  1,609
  1,699
EBITDA, $m
  167
  194
  223
  255
  288
  323
  361
  400
  441
  484
  529
  576
  625
  675
  728
  783
  840
  899
  961
  1,025
  1,092
  1,161
  1,233
  1,308
  1,386
  1,468
  1,553
  1,642
  1,734
  1,831
Interest expense (income), $m
  14
  18
  23
  27
  32
  38
  44
  50
  56
  63
  70
  78
  85
  94
  102
  111
  120
  130
  140
  150
  161
  172
  183
  195
  208
  221
  235
  249
  264
  279
  295
Earnings before tax, $m
  94
  115
  137
  161
  187
  214
  242
  272
  303
  336
  413
  449
  486
  525
  565
  606
  650
  695
  742
  790
  841
  894
  949
  1,006
  1,065
  1,127
  1,192
  1,259
  1,330
  1,404
Tax expense, $m
  25
  31
  37
  44
  50
  58
  65
  73
  82
  91
  112
  121
  131
  142
  152
  164
  175
  188
  200
  213
  227
  241
  256
  272
  288
  304
  322
  340
  359
  379
Net income, $m
  69
  84
  100
  118
  136
  156
  177
  199
  222
  245
  302
  328
  355
  383
  412
  443
  474
  507
  541
  577
  614
  652
  692
  734
  778
  823
  870
  919
  971
  1,025

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  804
  933
  1,073
  1,222
  1,382
  1,552
  1,731
  1,919
  2,117
  2,323
  2,539
  2,764
  2,998
  3,242
  3,496
  3,759
  4,032
  4,317
  4,612
  4,920
  5,239
  5,572
  5,918
  6,278
  6,653
  7,045
  7,453
  7,879
  8,324
  8,788
Adjusted assets (=assets-cash), $m
  804
  933
  1,073
  1,222
  1,382
  1,552
  1,731
  1,919
  2,117
  2,323
  2,539
  2,764
  2,998
  3,242
  3,496
  3,759
  4,032
  4,317
  4,612
  4,920
  5,239
  5,572
  5,918
  6,278
  6,653
  7,045
  7,453
  7,879
  8,324
  8,788
Revenue / Adjusted assets
  0.693
  0.693
  0.692
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
  0.693
Average production assets, $m
  314
  365
  419
  478
  540
  607
  676
  750
  827
  908
  992
  1,080
  1,172
  1,267
  1,366
  1,469
  1,576
  1,687
  1,803
  1,923
  2,048
  2,178
  2,313
  2,454
  2,601
  2,754
  2,913
  3,080
  3,253
  3,435
Working capital, $m
  142
  165
  190
  216
  244
  274
  306
  339
  374
  411
  449
  488
  530
  573
  618
  664
  713
  763
  815
  869
  926
  985
  1,046
  1,109
  1,176
  1,245
  1,317
  1,392
  1,471
  1,553
Total debt, $m
  389
  470
  557
  651
  751
  857
  969
  1,086
  1,210
  1,339
  1,474
  1,614
  1,761
  1,913
  2,072
  2,236
  2,407
  2,585
  2,770
  2,962
  3,161
  3,369
  3,585
  3,811
  4,045
  4,290
  4,545
  4,811
  5,089
  5,379
Total liabilities, $m
  502
  583
  670
  764
  864
  970
  1,082
  1,199
  1,323
  1,452
  1,587
  1,728
  1,874
  2,026
  2,185
  2,349
  2,520
  2,698
  2,883
  3,075
  3,274
  3,482
  3,699
  3,924
  4,158
  4,403
  4,658
  4,924
  5,202
  5,493
Total equity, $m
  301
  350
  402
  458
  518
  582
  649
  720
  794
  871
  952
  1,037
  1,124
  1,216
  1,311
  1,410
  1,512
  1,619
  1,730
  1,845
  1,965
  2,089
  2,219
  2,354
  2,495
  2,642
  2,795
  2,955
  3,121
  3,296
Total liabilities and equity, $m
  803
  933
  1,072
  1,222
  1,382
  1,552
  1,731
  1,919
  2,117
  2,323
  2,539
  2,765
  2,998
  3,242
  3,496
  3,759
  4,032
  4,317
  4,613
  4,920
  5,239
  5,571
  5,918
  6,278
  6,653
  7,045
  7,453
  7,879
  8,323
  8,789
Debt-to-equity ratio
  1.290
  1.340
  1.390
  1.420
  1.450
  1.470
  1.490
  1.510
  1.520
  1.540
  1.550
  1.560
  1.570
  1.570
  1.580
  1.590
  1.590
  1.600
  1.600
  1.610
  1.610
  1.610
  1.620
  1.620
  1.620
  1.620
  1.630
  1.630
  1.630
  1.630
Adjusted equity ratio
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375
  0.375

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  69
  84
  100
  118
  136
  156
  177
  199
  222
  245
  302
  328
  355
  383
  412
  443
  474
  507
  541
  577
  614
  652
  692
  734
  778
  823
  870
  919
  971
  1,025
Depreciation, amort., depletion, $m
  55
  57
  59
  61
  63
  66
  69
  72
  75
  78
  38
  42
  45
  49
  53
  57
  61
  65
  69
  74
  79
  84
  89
  94
  100
  106
  112
  118
  125
  132
Funds from operations, $m
  124
  141
  159
  179
  200
  222
  246
  270
  296
  323
  340
  369
  400
  432
  465
  499
  535
  572
  611
  651
  693
  736
  781
  828
  878
  929
  982
  1,038
  1,096
  1,157
Change in working capital, $m
  21
  23
  25
  26
  28
  30
  32
  33
  35
  37
  38
  40
  41
  43
  45
  47
  48
  50
  52
  54
  56
  59
  61
  64
  66
  69
  72
  75
  79
  82
Cash from operations, $m
  103
  118
  134
  152
  172
  192
  214
  237
  261
  287
  302
  329
  358
  389
  420
  453
  487
  522
  559
  597
  636
  677
  720
  765
  811
  860
  910
  963
  1,017
  1,075
Maintenance CAPEX, $m
  -10
  -12
  -14
  -16
  -18
  -21
  -23
  -26
  -29
  -32
  -35
  -38
  -42
  -45
  -49
  -53
  -57
  -61
  -65
  -69
  -74
  -79
  -84
  -89
  -94
  -100
  -106
  -112
  -118
  -125
New CAPEX, $m
  -46
  -50
  -55
  -59
  -62
  -66
  -70
  -74
  -77
  -81
  -84
  -88
  -92
  -95
  -99
  -103
  -107
  -111
  -116
  -120
  -125
  -130
  -135
  -141
  -147
  -153
  -160
  -166
  -174
  -182
Cash from investing activities, $m
  -56
  -62
  -69
  -75
  -80
  -87
  -93
  -100
  -106
  -113
  -119
  -126
  -134
  -140
  -148
  -156
  -164
  -172
  -181
  -189
  -199
  -209
  -219
  -230
  -241
  -253
  -266
  -278
  -292
  -307
Free cash flow, $m
  46
  55
  66
  78
  91
  105
  121
  137
  155
  174
  182
  203
  225
  248
  272
  297
  323
  350
  378
  407
  437
  469
  501
  535
  570
  607
  645
  684
  725
  768
Issuance/(repayment) of debt, $m
  74
  81
  87
  94
  100
  106
  112
  118
  123
  129
  135
  141
  146
  152
  158
  165
  171
  178
  185
  192
  200
  208
  216
  225
  235
  245
  255
  266
  278
  290
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  74
  81
  87
  94
  100
  106
  112
  118
  123
  129
  135
  141
  146
  152
  158
  165
  171
  178
  185
  192
  200
  208
  216
  225
  235
  245
  255
  266
  278
  290
Total cash flow (excl. dividends), $m
  120
  136
  153
  171
  191
  211
  232
  255
  279
  303
  317
  344
  372
  401
  431
  462
  494
  528
  563
  599
  637
  676
  717
  760
  805
  851
  900
  950
  1,003
  1,058
Retained Cash Flow (-), $m
  -45
  -48
  -52
  -56
  -60
  -64
  -67
  -71
  -74
  -78
  -81
  -84
  -88
  -91
  -95
  -99
  -103
  -107
  -111
  -115
  -120
  -125
  -130
  -135
  -141
  -147
  -153
  -160
  -167
  -174
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  76
  88
  101
  115
  131
  147
  165
  184
  204
  226
  236
  260
  284
  309
  336
  363
  392
  421
  452
  484
  517
  552
  588
  625
  664
  704
  747
  791
  836
  884
Discount rate, %
  7.30
  7.67
  8.05
  8.45
  8.87
  9.32
  9.78
  10.27
  10.79
  11.32
  11.89
  12.49
  13.11
  13.77
  14.45
  15.18
  15.93
  16.73
  17.57
  18.45
  19.37
  20.34
  21.35
  22.42
  23.54
  24.72
  25.96
  27.25
  28.62
  30.05
PV of cash for distribution, $m
  70
  76
  80
  83
  85
  86
  86
  84
  81
  77
  69
  63
  57
  51
  44
  38
  32
  26
  21
  16
  13
  9
  7
  5
  3
  2
  1
  1
  1
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Douglas Dynamics, Inc. is a manufacturer and up-fitter of commercial vehicle attachments and equipment. The Company's portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, HENDERSON, SNOWEX and WESTERN brands, turf care equipment under the TURFEX brand and industrial maintenance equipment under the SWEEPEX brand. The Company operates through two segments: Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment includes snow and ice management attachments sold under the FISHER, WESTERN, HENDERSON and SNOWEX brands. The Work Truck Solutions segment includes the up-fit of attachments and storage solutions for commercial work vehicles under the DEJANA brand and its related sub-brands. In its Work Truck Attachments segment, the Company offers a product line of snowplows, and sand and salt spreaders for light and heavy duty trucks. Its Work Truck Solutions products consist of truck and vehicle up-fits.

FINANCIAL RATIOS  of  Douglas Dynamics (PLOW)

Valuation Ratios
P/E Ratio 22
Price to Sales 2.1
Price to Book 3.9
Price to Tangible Book
Price to Cash Flow 12.3
Price to Free Cash Flow 14.3
Growth Rates
Sales Growth Rate 4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 27.2%
Financial Strength
Quick Ratio 6
Current Ratio 0
LT Debt to Equity 139.5%
Total Debt to Equity 140.9%
Interest Coverage 6
Management Effectiveness
Return On Assets 8.1%
Ret/ On Assets - 3 Yr. Avg. 9.8%
Return On Total Capital 8.5%
Ret/ On T. Cap. - 3 Yr. Avg. 10.9%
Return On Equity 18.5%
Return On Equity - 3 Yr. Avg. 22.1%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 32.2%
Gross Margin - 3 Yr. Avg. 34.5%
EBITDA Margin 22.8%
EBITDA Margin - 3 Yr. Avg. 23.7%
Operating Margin 19%
Oper. Margin - 3 Yr. Avg. 20.5%
Pre-Tax Margin 15.4%
Pre-Tax Margin - 3 Yr. Avg. 17.4%
Net Profit Margin 9.4%
Net Profit Margin - 3 Yr. Avg. 11.2%
Effective Tax Rate 39.1%
Eff/ Tax Rate - 3 Yr. Avg. 36%
Payout Ratio 53.8%

PLOW stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PLOW stock intrinsic value calculation we used $474.927 million for the last fiscal year's total revenue generated by Douglas Dynamics. The default revenue input number comes from 0001 income statement of Douglas Dynamics. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PLOW stock valuation model: a) initial revenue growth rate of 17.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.3%, whose default value for PLOW is calculated based on our internal credit rating of Douglas Dynamics, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Douglas Dynamics.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PLOW stock the variable cost ratio is equal to 81.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for PLOW stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.8% for Douglas Dynamics.

Corporate tax rate of 27% is the nominal tax rate for Douglas Dynamics. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PLOW stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PLOW are equal to 56.4%.

Life of production assets of 26 years is the average useful life of capital assets used in Douglas Dynamics operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PLOW is equal to 25.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $256.678 million for Douglas Dynamics - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 22.701 million for Douglas Dynamics is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Douglas Dynamics at the current share price and the inputted number of shares is $0.9 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Douglas Dynamics: 3Q Earnings Snapshot   [07:09PM  Associated Press]
▶ Douglas Dynamics Inc (NYSE:PLOW): Ex-Dividend Is In 4 Days   [Sep-12-18 07:11AM  Simply Wall St.]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Sep-06-18 08:30AM  GlobeNewswire]
▶ Douglas Dynamics CEO Jim Janik transitioning to board chairman   [Aug-07-18 11:35AM  American City Business Journals]
▶ Douglas Dynamics: 2Q Earnings Snapshot   [06:43PM  Associated Press]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Jun-07-18 08:00AM  GlobeNewswire]
▶ Why the Long Winter Could Help Douglas Dynamics' Future   [May-08-18 07:54AM  Motley Fool]
▶ Douglas Dynamics: 1Q Earnings Snapshot   [May-07-18 07:31PM  Associated Press]
▶ New Strong Buy Stocks for April 13th   [Apr-13-18 10:47AM  Zacks]
▶ Top Ranked Momentum Stocks to Buy for April 6th   [Apr-06-18 11:56AM  Zacks]
▶ Douglas Dynamics, Inc. to Host Earnings Call   [Feb-27-18 08:30AM  ACCESSWIRE]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Dec-07-17 04:30PM  GlobeNewswire]
▶ New Strong Sell Stocks for November 14th   [Nov-14-17 09:10AM  Zacks]
▶ Natural Disasters Hit Douglas Dynamics   [09:04AM  Motley Fool]
▶ Douglas Dynamics misses 3Q profit forecasts   [Nov-06-17 06:51PM  Associated Press]
▶ 2 Top Dividend Stocks in Industrial Machinery   [Sep-14-17 02:31PM  Motley Fool]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Sep-07-17 04:30PM  GlobeNewswire]
▶ Top Ranked Income Stocks to Buy for August 31st   [Aug-31-17 11:02AM  Zacks]
▶ Douglas Dynamics Announces Management Transition   [Aug-23-17 08:30AM  GlobeNewswire]
▶ Top Ranked Income Stocks to Buy for August 14th   [Aug-14-17 08:32AM  Zacks]
▶ Douglas Dynamics Gets Balance From Business Diversity   [Aug-08-17 07:30AM  Motley Fool]
▶ Douglas Dynamics beats 2Q profit forecasts   [Aug-07-17 07:16PM  Associated Press]
▶ Douglas Dynamics Declares Quarterly Cash Dividend   [Jun-08-17 04:15PM  GlobeNewswire]
▶ Tampa real estate lawyer facing insider charges vows to fight   [Jun-06-17 08:00AM  American City Business Journals]
▶ New Strong Sell Stocks for May 11th   [May-11-17 09:14AM  Zacks]
▶ Douglas Dynamics Looks Forward to Better Times Ahead   [May-08-17 09:39PM  Motley Fool]
▶ Douglas Dynamics reports 1Q loss   [06:32PM  Associated Press]

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