Advantage Alpha Capital Partners LP Has $2.15 Million Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Advantage Alpha Capital Partners LP grew its holdings in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,885 shares of the construction company's stock after acquiring an additional 8,009 shares during the quarter. Advantage Alpha Capital Partners LP owned 0.08% of Patrick Industries worth $2,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kestra Investment Management LLC bought a new stake in Patrick Industries in the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC raised its position in shares of Patrick Industries by 812.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock valued at $49,000 after buying an additional 528 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Patrick Industries in the fourth quarter valued at approximately $53,000. Global Retirement Partners LLC boosted its stake in shares of Patrick Industries by 44.8% in the fourth quarter. Global Retirement Partners LLC now owns 643 shares of the construction company's stock valued at $53,000 after buying an additional 199 shares during the period. Finally, GAMMA Investing LLC grew its position in Patrick Industries by 61.2% during the fourth quarter. GAMMA Investing LLC now owns 764 shares of the construction company's stock worth $63,000 after buying an additional 290 shares in the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Patrick Industries news, Director M Scott Welch purchased 2,500 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $84.62 per share, for a total transaction of $211,550.00. Following the completion of the acquisition, the director now owns 2,961 shares in the company, valued at approximately $250,559.82. This trade represents a 542.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total value of $246,754.05. Following the completion of the sale, the executive vice president now owns 18,044 shares of the company's stock, valued at $1,543,303.32. The trade was a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.70% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have weighed in on PATK shares. StockNews.com cut Patrick Industries from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Truist Financial upped their price objective on shares of Patrick Industries from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Raymond James increased their price objective on shares of Patrick Industries from $99.00 to $103.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Benchmark upped their price target on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, KeyCorp lifted their price objective on shares of Patrick Industries from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.96.

Patrick Industries Price Performance

Patrick Industries stock traded down $3.00 during mid-day trading on Friday, reaching $83.90. The company had a trading volume of 247,845 shares, compared to its average volume of 325,608. The business has a fifty day simple moving average of $91.05 and a 200 day simple moving average of $89.84. The company has a market cap of $2.82 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.41 and a beta of 2.37. The company has a current ratio of 2.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.16. Patrick Industries, Inc. has a fifty-two week low of $67.72 and a fifty-two week high of $98.90.

Patrick Industries (NASDAQ:PATK - Get Free Report) last issued its earnings results on Thursday, February 6th. The construction company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. On average, equities research analysts predict that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Patrick Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.91%. Patrick Industries's dividend payout ratio is presently 38.83%.

Patrick Industries 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.