Patrick Industries, Inc. (NASDAQ:PATK) EVP Stacey L. Neu Sells 2,885 Shares

Patrick Industries, Inc. (NASDAQ:PATK - Get Free Report) EVP Stacey L. Neu sold 2,885 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total transaction of $246,754.05. Following the completion of the transaction, the executive vice president now owns 18,044 shares of the company's stock, valued at $1,543,303.32. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Patrick Industries Stock Performance

NASDAQ PATK traded down $1.10 during trading hours on Monday, reaching $84.60. The stock had a trading volume of 396,320 shares, compared to its average volume of 313,358. The stock has a fifty day moving average of $91.16 and a 200 day moving average of $89.85. The stock has a market cap of $2.85 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.41 and a beta of 2.37. Patrick Industries, Inc. has a 52-week low of $67.72 and a 52-week 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.

Patrick Industries (NASDAQ:PATK - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The construction company reported $0.52 EPS for the quarter, topping 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%. Sell-side analysts predict that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

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Patrick Industries Announces Dividend

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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 annualized dividend and a yield of 1.89%. Patrick Industries's dividend payout ratio is presently 38.83%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Patrick Industries

Hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new stake in Patrick Industries in the 4th quarter worth approximately $25,000. Covestor Ltd boosted its position in Patrick Industries by 10,400.0% in the 4th quarter. Covestor Ltd now owns 315 shares of the construction company's stock worth $26,000 after purchasing an additional 312 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Patrick Industries by 49.8% in the 4th quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock worth $27,000 after purchasing an additional 109 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Patrick Industries by 49.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company's stock worth $29,000 after buying an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Patrick Industries by 812.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock worth $49,000 after buying an additional 528 shares during the period. Hedge funds and other institutional investors own 93.29% of the company's stock.

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.