Patrick Industries, Inc. (NASDAQ:PATK) Declares Quarterly Dividend of $0.52

Patrick Industries, Inc. (NASDAQ:PATK) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Monday, November 23rd will be given a dividend of $0.52 per share by the construction company on Monday, December 7th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, November 23rd. This is a 10.6% increase from Patrick Industries’s previous quarterly dividend of $0.47.

Patrick Industries has increased its dividend 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. Equities analysts expect Patrick Industries to earn $5.11 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 36.8%.

Patrick Industries Price Performance

Shares of PATK traded up $2.10 during trading hours on Friday, hitting $80.69. The stock had a trading volume of 399,452 shares, compared to its average volume of 546,714. The company’s fifty day moving average is $71.95 and its two-hundred day moving average is $93.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.51 and a quick ratio of 0.86. Patrick Industries has a 52 week low of $63.00 and a 52 week high of $148.50. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 2.06 and a beta of 1.21.

Patrick Industries (NASDAQ:PATK) last announced its quarterly earnings results on Thursday, October 29th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $975.28 million during the quarter, compared to the consensus estimate of $938.49 million. Patrick Industries had a net margin of 3.38% and a return on equity of 12.61%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. On average, analysts anticipate that Patrick Industries will post 4.24 EPS for the current year.

About Patrick Industries

Patrick Industries, Inc. is a manufacturer and distributor of component products and building materials for recreational vehicles, marine products, manufactured housing, and other markets. Founded in 1959 and headquartered in Elkhart, Indiana, the company supplies products used in the construction and furnishing of vehicles, homes, and industrial applications. Its offerings include cabinetry, countertops, flooring, insulation, furniture, fabricated metal products, laminates, and other interior and structural components.