Equities research analysts predict that Patrick Industries, Inc. (NASDAQ:PATK) will report sales of $958.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Patrick Industries’ earnings. The highest sales estimate is $978.80 million and the lowest is $937.60 million. Patrick Industries reported sales of $700.71 million during the same quarter last year, which would suggest a positive year over year growth rate of 36.7%. The firm is scheduled to announce its next earnings report on Thursday, November 4th.
According to Zacks, analysts expect that Patrick Industries will report full-year sales of $3.79 billion for the current year, with estimates ranging from $3.70 billion to $3.87 billion. For the next year, analysts anticipate that the business will report sales of $3.97 billion, with estimates ranging from $3.85 billion to $4.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Patrick Industries.
Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, July 29th. The construction company reported $2.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.69. Patrick Industries had a return on equity of 30.29% and a net margin of 5.43%.
NASDAQ PATK traded down $2.04 during trading on Tuesday, hitting $79.12. The stock had a trading volume of 119,962 shares, compared to its average volume of 145,963. The company has a market capitalization of $1.87 billion, a PE ratio of 10.12 and a beta of 2.44. The company’s 50-day moving average price is $80.59 and its two-hundred day moving average price is $83.55. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.09 and a current ratio of 2.32. Patrick Industries has a 12 month low of $47.74 and a 12 month high of $98.83.
The business also recently declared a quarterly dividend, which was paid on Monday, September 13th. Shareholders of record on Monday, August 30th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, August 27th. Patrick Industries’s dividend payout ratio (DPR) is 26.67%.
In related news, Director Derrick B. Mayes sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $87.00, for a total transaction of $104,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Todd M. Cleveland sold 1,000 shares of the company’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $85.53, for a total value of $85,530.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,200 shares of company stock worth $1,383,910 in the last ninety days. Insiders own 6.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its holdings in Patrick Industries by 4.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 80,062 shares of the construction company’s stock valued at $5,845,000 after buying an additional 3,559 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Patrick Industries during the 2nd quarter valued at $204,000. Marshall Wace LLP bought a new stake in shares of Patrick Industries during the 2nd quarter valued at $3,446,000. Marshall Wace North America L.P. bought a new stake in shares of Patrick Industries during the 2nd quarter valued at $886,000. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Patrick Industries by 108,466.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 6,514 shares of the construction company’s stock valued at $476,000 after acquiring an additional 6,508 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Patrick Industries Company Profile
Patrick Industries, Inc engages in the manufacture of components products and distribution of building products for industrial markets. It operates through the following segments: Manufacturing and Distribution. The Manufacturing segment includes laminated products what are utilized to produce furniture, shelving, walls, countertops, cabinet products, cabinet doors, fiberglass bat fixtures, hardwood furniture, vinyl printing, solid surface, granite, quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components, and other products.
Featured Story: Debt-To-Equity Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related companies with MarketBeat.com's FREE daily email newsletter.