Patrick Industries said on August 17, 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.
Shareholders of record as of August 28, 2023 will receive the payment on September 11, 2023.
At the current share price of $80.24 / share, the stock's dividend yield is 2.24%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.57%, the lowest has been 1.17%, and the highest has been 6.47%. The standard deviation of yields is 1.12 (n=235).
The current dividend yield is 0.29 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.23. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.80%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 565 funds or institutions reporting positions in Patrick Industries. This is a decrease of 7 owner(s) or 1.22% in the last quarter. Average portfolio weight of all funds dedicated to PATK is 0.16%, an increase of 4.49%. Total shares owned by institutions increased in the last three months by 0.21% to 24,137K shares. 
The put/call ratio of PATK is 2.93, indicating a bearish outlook.
Analyst Price Forecast Suggests 16.04% Upside
As of August 2, 2023, the average one-year price target for Patrick Industries is 93.11. The forecasts range from a low of 63.63 to a high of $110.25. The average price target represents an increase of 16.04% from its latest reported closing price of 80.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Patrick Industries is 4,326MM, an increase of 11.36%. The projected annual non-GAAP EPS is 8.38.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,487K shares representing 6.69% ownership of the company. In it's prior filing, the firm reported owning 1,566K shares, representing a decrease of 5.35%. The firm increased its portfolio allocation in PATK by 6.87% over the last quarter.
FSCRX - Fidelity Small Cap Discovery Fund holds 841K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 850K shares, representing a decrease of 1.08%. The firm increased its portfolio allocation in PATK by 3.05% over the last quarter.
Wellington Management Group Llp holds 661K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 654K shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in PATK by 84.17% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 660K shares representing 2.97% 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.
Wasatch Advisors holds 557K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 236K shares, representing an increase of 57.62%. The firm increased its portfolio allocation in PATK by 166.81% 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.
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