Aldebaran Capital LLC Acquires 4,635 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Aldebaran Capital LLC grew its holdings in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 47.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,319 shares of the construction company's stock after acquiring an additional 4,635 shares during the period. Patrick Industries accounts for approximately 1.1% of Aldebaran Capital LLC's holdings, making the stock its 19th largest position. Aldebaran Capital LLC's holdings in Patrick Industries were worth $1,190,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PATK. BNP Paribas Financial Markets raised its stake in shares of Patrick Industries by 23.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,273 shares of the construction company's stock valued at $1,605,000 after acquiring an additional 2,175 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Patrick Industries in the third quarter valued at approximately $418,000. Benjamin Edwards Inc. acquired a new stake in shares of Patrick Industries in the third quarter worth $2,413,000. HighTower Advisors LLC bought a new stake in shares of Patrick Industries during the 3rd quarter worth $408,000. Finally, Readystate Asset Management LP acquired a new position in Patrick Industries in the 3rd quarter valued at $624,000. Institutional investors and hedge funds own 93.29% of the company's stock.

Patrick Industries Price Performance

NASDAQ PATK traded down $0.61 during trading on Wednesday, reaching $73.72. 149,630 shares of the company traded hands, compared to its average volume of 330,035. Patrick Industries, Inc. has a 1-year low of $67.72 and a 1-year high of $98.90. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.77 and a current ratio of 2.33. The stock's 50 day moving average price is $88.70 and its two-hundred day moving average price is $89.22. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.41 and a beta of 2.17.

Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The construction company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Patrick Industries had a return on equity of 13.25% and a net margin of 3.72%. As a group, analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current year.

Patrick Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, February 18th. Patrick Industries's payout ratio is presently 38.83%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PATK shares. KeyCorp upped their price target on shares of Patrick Industries from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Benchmark lifted their price target on Patrick Industries from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. StockNews.com lowered Patrick Industries from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Raymond James raised 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. Finally, Baird R W cut shares of Patrick Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Patrick Industries has an average rating of "Moderate Buy" and a consensus target price of $99.29.

Insiders Place Their Bets

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

About Patrick Industries

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.