Patrick Industries (PATK) Declares $0.45 Dividend
Patrick Industries said on May 26, 2023 that its board of directors declared a regular quarterly dividend of $0.45 per share ($1.80 annualized). Previously, the company paid $0.45 per share.
Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on June 26, 2023.
At the current share price of $70.75 / share, the stock's dividend yield is 2.54%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.61%, the lowest has been 1.17%, and the highest has been 6.47%. The standard deviation of yields is 1.12 (n=236).
The current dividend yield is 0.06 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.80%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 577 funds or institutions reporting positions in Patrick Industries. This is an increase of 21 owner(s) or 3.78% in the last quarter. Average portfolio weight of all funds dedicated to PATK is 0.15%, an increase of 39.80%. Total shares owned by institutions decreased in the last three months by 1.79% to 23,939K shares. 
The put/call ratio of PATK is 1.46, indicating a bearish outlook.
Analyst Price Forecast Suggests 17.81% Upside
As of May 11, 2023, the average one-year price target for Patrick Industries is 83.35. The forecasts range from a low of 63.63 to a high of $110.25. The average price target represents an increase of 17.81% from its latest reported closing price of 70.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Patrick Industries is 4,326MM, a decrease of 2.56%. The projected annual non-GAAP EPS is 8.38.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,566K shares representing 7.02% ownership of the company. In it's prior filing, the firm reported owning 1,596K shares, representing a decrease of 1.88%. The firm increased its portfolio allocation in PATK by 8.30% over the last quarter.
FSCRX - Fidelity Small Cap Discovery Fund holds 850K shares representing 3.81% ownership of the company. In it's prior filing, the firm reported owning 700K shares, representing an increase of 17.65%. The firm increased its portfolio allocation in PATK by 79.08% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 660K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 651K shares, representing an increase of 1.27%. The firm increased its portfolio allocation in PATK by 6.20% over the last quarter.
Wellington Management Group Llp holds 654K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 996K shares, representing a decrease of 52.41%. The firm decreased its portfolio allocation in PATK by 89.61% over the last quarter.
Loomis Sayles & Co L P holds 492K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 488K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in PATK by 99,143.88% over the last quarter.
Patrick Industries Background Information
(This description is provided by the company.)
Patrick Industries, Inc. is a major manufacturer and distributor of component products and building products serving the recreational vehicle, marine, manufactured housing, residential housing, high-rise, hospitality, kitchen cabinet, office and household furniture, fixtures and commercial furnishings, and other industrial markets and operates coast-to-coast in various locations throughout the United States and in Canada, China and the Netherlands. Patrick's major manufactured products include decorative vinyl and paper laminated panels, countertops, fabricated aluminum products, wrapped profile mouldings, slide-out trim and fascia, cabinet doors and components, hardwood furniture, fiberglass bath fixtures and tile systems, thermoformed shower surrounds, specialty bath and closet building products, fiberglass and plastic helm systems and component products, wiring and wire harnesses, boat covers, towers, tops and frames, electrical systems components including instrument and dash panels, softwoods lumber, interior passage doors, air handling products, RV painting, slotwall panels and components, aluminum fuel tanks, and CNC molds and composite parts and other products. The Company also distributes drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, appliances, cement siding, raw and processed lumber, FRP products, interior passage doors, roofing products, tile, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lighting products, various marine aftermarket products, and other miscellaneous products, in addition to providing transportation and logistics services.
Key filings for this company:
This story originally appeared on Fintel.