Natixis Advisors LLC Has $2.74 Million Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

Natixis Advisors LLC grew its position in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 85.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,997 shares of the construction company's stock after purchasing an additional 15,170 shares during the period. Natixis Advisors LLC owned approximately 0.10% of Patrick Industries worth $2,741,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PATK. Kestra Investment Management LLC acquired a new stake in Patrick Industries in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC boosted 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 worth $49,000 after buying an additional 528 shares during the period. Quent Capital LLC purchased a new stake in shares of Patrick Industries during the 4th quarter valued at about $53,000. Global Retirement Partners LLC lifted its position in Patrick Industries by 44.8% during the 4th quarter. Global Retirement Partners LLC now owns 643 shares of the construction company's stock worth $53,000 after acquiring an additional 199 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Patrick Industries by 61.2% in the 4th quarter. GAMMA Investing LLC now owns 764 shares of the construction company's stock worth $63,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 93.29% of the company's stock.

Patrick Industries Stock Performance

Shares of NASDAQ PATK traded down $0.53 during mid-day trading on Thursday, hitting $86.90. The company had a trading volume of 219,468 shares, compared to its average volume of 315,553. Patrick Industries, Inc. has a 12 month low of $67.72 and a 12 month high of $98.90. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 0.77. The firm's 50 day simple moving average is $91.33 and its two-hundred day simple moving average is $89.86. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.41 and a beta of 2.37.

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

Patrick Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.84%. Patrick Industries's payout ratio is 38.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PATK shares. StockNews.com cut shares of Patrick Industries from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. KeyCorp boosted their price objective on shares of Patrick Industries from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Truist Financial lifted their price objective on Patrick Industries from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, February 10th. Raymond James increased their target price on Patrick Industries from $99.00 to $103.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Benchmark lifted their price target on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a "buy" 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 given a buy rating to the stock. Based on data from MarketBeat, Patrick Industries has an average rating of "Moderate Buy" and a consensus price target of $97.96.

Insiders Place Their Bets

In related news, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total transaction of $246,754.05. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Scott Welch purchased 2,500 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $84.62 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. 4.70% of the stock is currently owned by insiders.

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.