Patrick Industries, a publicly traded company listed on NASDAQ under the ticker symbol PATK, has announced that it will be distributing a dividend payout of $0.55 per share to its shareholders on March 4, 2024. This dividend equates to an annualized dividend yield of 2.14%.
Shareholders who held Patrick Industries stock before the ex-dividend date on February 16, 2024, will be eligible to receive this payout. The company has a track record of consistently paying dividends, with recent payouts including $0.55 per share on November 24, 2023, and $0.45 per share on August 25, 2023.
In comparison to its industry peers, Patrick Industries’ dividend yield of 2.14% falls in the middle range. For instance, Standard Motor Products, traded on the New York Stock Exchange under the ticker symbol SMP, currently boasts the highest annualized dividend yield in the industry at 3.73%.
Patrick Industries Inc. (PATK) Shows Strong Price Momentum on March 4, 2024
On March 4, 2024, Patrick Industries Inc. (PATK) saw a positive performance in the stock market. Trading near the top of its 52-week range and above its 200-day simple moving average, the company’s stock showed strong price momentum. The price of PATK shares increased by $0.56 since the market last closed, representing a 0.46% rise. Despite the slight dip in the opening price, the stock quickly rebounded and showed steady growth throughout the trading day. Investors may have been encouraged by the positive price momentum and the stock’s ability to maintain its position near the top of its 52-week range. Overall, the performance of PATK on March 4, 2024, was positive, with the stock showing resilience and potential for further growth. Investors will be keeping a close eye on the company’s future developments and financial results to see if this positive momentum continues.
PATK Stock Performance: Revenue, Net Income, and EPS Decline in 2024
On March 4, 2024, investors in PATK were closely watching the stock performance after the company released its financial results. According to data from CNN Money, PATK reported a total revenue of $3.47 billion for the past year, with a significant decrease of 28.96% compared to the previous year. The total revenue for the last quarter was $781.19 million, which remained flat compared to the previous quarter.
The net income for PATK was reported at $142.90 million for the past year, showing a decrease of 56.46% compared to the previous year. The net income for the last quarter was $30.82 million, which represented a decrease of 22.08% compared to the previous quarter.
Earnings per share (EPS) for PATK were $6.50 for the past year, showing a decrease of 51.57% compared to the previous year. The EPS for the last quarter was $1.41, which represented a decrease of 22.19% compared to the previous quarter.
Overall, the financial performance of PATK showed a decline in total revenue, net income, and earnings per share compared to the previous year and the previous quarter. This may have had an impact on the stock performance on March 4, 2024, as investors reacted to the disappointing financial results.
