Illinois Municipal Retirement Fund Acquires 6,875 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Illinois Municipal Retirement Fund boosted its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 62.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,826 shares of the construction company's stock after purchasing an additional 6,875 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Patrick Industries worth $1,481,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PATK. Kestra Investment Management LLC acquired a new position in Patrick Industries during the 4th quarter valued at approximately $25,000. Quent Capital LLC acquired a new stake in shares of Patrick Industries in the 4th quarter worth about $53,000. Global Retirement Partners LLC lifted its position in Patrick Industries by 44.8% in the 4th quarter. Global Retirement Partners LLC now owns 643 shares of the construction company's stock valued at $53,000 after purchasing an additional 199 shares during the last quarter. GAMMA Investing LLC boosted its stake in Patrick Industries by 61.2% during the 4th quarter. GAMMA Investing LLC now owns 764 shares of the construction company's stock valued at $63,000 after purchasing an additional 290 shares during the period. Finally, UMB Bank n.a. grew its position in Patrick Industries by 35.1% in the 4th quarter. UMB Bank n.a. now owns 766 shares of the construction company's stock worth $64,000 after purchasing an additional 199 shares during the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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Patrick Industries Trading Down 0.9 %

Shares of Patrick Industries stock traded down $0.78 during trading on Wednesday, hitting $86.66. The stock had a trading volume of 656,065 shares, compared to its average volume of 429,757. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $2.92 billion, a PE ratio of 21.03, a P/E/G ratio of 1.41 and a beta of 2.26. Patrick Industries, Inc. has a 1 year low of $45.15 and a 1 year high of $98.60. The stock has a 50 day simple moving average of $90.68 and a 200 day simple moving average of $89.84.

Patrick Industries (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $0.52 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, research analysts expect that Patrick Industries, Inc. will post 5.33 EPS for the current fiscal year.

Patrick Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries's payout ratio is 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.