Patrick Industries, Inc. (NASDAQ:PATK) Announces $0.40 Quarterly Dividend

Key Points

• Patrick Industries, Inc. announced a quarterly dividend of $0.40 per share, to be paid on September 8th to stockholders of record as of August 25th, representing an annualized yield of 1.4%.
• The company's dividend payout ratio stands at 29.5%, indicating that its earnings are sufficiently covering the dividend, with analysts forecasting an expected future payout ratio of 25.1%.
• Patrick Industries reported $1.50 EPS for the last quarter, exceeding analyst expectations, with a revenue increase of 3.0% year-over-year, totaling $1.05 billion.

Patrick Industries, Inc. (NASDAQ:PATK - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Monday, August 25th will be paid a dividend of 0.40 per share by the construction company on Monday, September 8th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 25th.

Patrick Industries has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Patrick Industries to earn $6.37 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 25.1%.

Patrick Industries Price Performance

Shares of NASDAQ PATK traded down $1.91 during trading hours on Monday, hitting $110.22. 338,256 shares of the stock were exchanged, compared to its average volume of 397,089. The company's fifty day simple moving average is $97.82 and its two-hundred day simple moving average is $90.18. The company has a market cap of $3.67 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.75 and a current ratio of 1.96. Patrick Industries has a 1-year low of $72.99 and a 1-year high of $114.26.

Patrick Industries (NASDAQ:PATK - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. Patrick Industries had a return on equity of 13.04% and a net margin of 3.30%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the company earned $2.16 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts predict that Patrick Industries will post 5.33 EPS for the current year.

Patrick Industries Company Profile

Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.