Patrick Industries, Inc. (NASDAQ:PATK) Declares $0.47 Quarterly Dividend

Patrick Industries, Inc. (NASDAQ:PATK) announced 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 is Tuesday, May 26th.

Patrick Industries has increased its dividend payment by an average of 0.2%per year over the last three years and has increased 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. 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 Down 3.1%

Shares of PATK traded down $2.95 during midday trading on Friday, reaching $91.19. The stock had a trading volume of 324,566 shares, 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’s fifty day simple moving average is $107.10 and its two-hundred day simple moving average is $113.74. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 23.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.71 and a quick ratio of 1.04.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.10 earnings per share for the quarter, beating 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 last year, the business earned $1.11 EPS. The company’s revenue was down .6% on a year-over-year basis. Equities research analysts expect that Patrick Industries will post 4.94 earnings per share for the current year.

Patrick Industries Company Profile

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.