Patrick Industries (NASDAQ:PATK – Get Free Report) posted its quarterly earnings data on Thursday. The construction company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.07), Briefing.com reports. Patrick Industries had a return on equity of 15.06% and a net margin of 4.26%. The firm had revenue of $919.44 million during the quarter, compared to analysts’ expectations of $935.75 million. During the same quarter in the previous year, the company posted $1.81 earnings per share. Patrick Industries’s revenue for the quarter was up 6.2% compared to the same quarter last year.
Patrick Industries Stock Down 2.5 %
NASDAQ:PATK traded down $3.34 during trading hours on Thursday, reaching $130.66. 37,279 shares of the company traded hands, compared to its average volume of 175,686. The business’s 50-day moving average price is $136.92 and its two-hundred day moving average price is $121.53. The stock has a market capitalization of $2.93 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.27 and a beta of 1.61. Patrick Industries has a 1 year low of $73.26 and a 1 year high of $148.35. The company has a current ratio of 2.29, a quick ratio of 0.94 and a debt-to-equity ratio of 1.19.
Patrick Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, August 26th. Patrick Industries’s payout ratio is 31.56%.
Analysts Set New Price Targets
Get Our Latest Stock Report on PATK
Insider Buying and Selling at Patrick Industries
In other Patrick Industries news, COO Hugo E. Gonzalez sold 1,911 shares of Patrick Industries stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $130.11, for a total transaction of $248,640.21. Following the completion of the transaction, the chief operating officer now owns 23,759 shares in the company, valued at approximately $3,091,283.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Patrick Industries news, Director Todd M. Cleveland sold 7,500 shares of Patrick Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $131.05, for a total transaction of $982,875.00. Following the completion of the transaction, the director now owns 82,374 shares in the company, valued at approximately $10,795,112.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Hugo E. Gonzalez sold 1,911 shares of Patrick Industries stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $130.11, for a total value of $248,640.21. Following the transaction, the chief operating officer now owns 23,759 shares of the company’s stock, valued at $3,091,283.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,411 shares of company stock worth $3,858,915. 4.70% of the stock is owned by insiders.
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.
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