Patrick Industries, Inc. to Issue Quarterly Dividend of $0.47 (NASDAQ:PATK)

Patrick Industries, Inc. (NASDAQ:PATK) declared a quarterly dividend on Thursday, May 14th. Stockholders of record on Tuesday, May 26th will be paid a dividend of 0.47 per share by the construction company on Monday, June 8th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, May 26th.

Patrick Industries has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. Patrick Industries has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Patrick Industries to earn $5.84 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 32.2%.

Patrick Industries Stock Performance

Shares of Patrick Industries stock traded down $2.95 on Friday, reaching $91.19. 324,566 shares of the stock were exchanged, compared to its average volume of 431,413. Patrick Industries has a 1-year low of $82.24 and a 1-year high of $148.50. The company has a current ratio of 2.71, a quick ratio of 1.04 and a debt-to-equity ratio of 1.16. The business has a fifty day moving average price of $107.10 and a two-hundred day moving average price of $113.74. The firm has a market capitalization of $3.00 billion, a PE ratio of 23.38 and a beta of 1.12.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Patrick Industries had a net margin of 3.46% and a return on equity of 13.24%. The business had revenue of $997.17 million for the quarter, compared to analyst estimates of $989.06 million. During the same period in the previous year, the business posted $1.11 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Patrick Industries will post 4.94 earnings per share for the current fiscal year.

About Patrick Industries

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.