It’s a blizzard on the East Coast today — and that’s good news for companies like Douglas Dynamics, Inc. (ticker: PLOW), the self-declared “North American leader in the design, manufacture and sale of snow and ice control equipment for light trucks, which consists of snowplows and sand and salt spreaders, and related parts and accessories.”
Based in snowy Milwaukie, Douglas Dynamics went public earlier this year, selling ten million shares of its common stock at a price of $11.25 per share. The company’s stock remained around that price until the weather started to turn cooler in October — at which time the price began to edge up. And as temperatures plunged in December, shares spiked, surpassing $16 per share on December 23. Today, as snow continues to blanket the roof and surround streets of the New York Stock Exchange building at 11 Wall Street, lower Manhattan, the company’s stock is closing in on $17 per share.
For a related story on the relative environmental effects of various measures taken to combat snow, see this post in our sister blog, The Green Mien.