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

Patrick Industries, Inc. (NASDAQ:PATK) announced a quarterly dividend on Monday, February 2nd. Shareholders of record on Monday, February 23rd will be given a dividend of 0.47 per share by the construction company on Monday, March 9th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, February 23rd.

Patrick Industries has increased 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 dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Patrick Industries to earn $6.37 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 29.5%.

Patrick Industries Stock Up 0.8%

PATK stock traded up $1.03 during mid-day trading on Friday, hitting $136.85. 249,920 shares of the company were exchanged, compared to its average volume of 333,691. The firm’s 50 day simple moving average is $124.56 and its 200 day simple moving average is $112.38. Patrick Industries has a 1-year low of $72.99 and a 1-year high of $148.50. The firm has a market cap of $4.55 billion, a P/E ratio of 35.00, a P/E/G ratio of 1.43 and a beta of 1.34. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.80 and a current ratio of 2.51.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, February 5th. The construction company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.10. The business had revenue of $924.17 million for the quarter, compared to analyst estimates of $858.62 million. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, sell-side analysts predict that Patrick Industries will post 5.33 EPS 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.