New York State Teachers Retirement System Increases Position in Patrick Industries, Inc. (NASDAQ:PATK)

New York State Teachers Retirement System raised its position in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 48.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,434 shares of the construction company's stock after buying an additional 10,961 shares during the period. New York State Teachers Retirement System owned about 0.10% of Patrick Industries worth $2,778,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Quent Capital LLC acquired a new position in Patrick Industries during the 4th quarter worth about $53,000. GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 290 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Patrick Industries by 35.1% in the fourth quarter. UMB Bank n.a. now owns 766 shares of the construction company's stock valued at $64,000 after purchasing an additional 199 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Patrick Industries by 21.4% in the third quarter. First Horizon Advisors Inc. now owns 788 shares of the construction company's stock valued at $112,000 after purchasing an additional 139 shares in the last quarter. Finally, Eukles Asset Management grew its holdings in shares of Patrick Industries by 40.0% in the fourth quarter. Eukles Asset Management now owns 1,378 shares of the construction company's stock valued at $114,000 after purchasing an additional 394 shares in the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts have recently weighed in on PATK shares. BMO Capital Markets upped their price objective on Patrick Industries from $100.00 to $103.33 and gave the stock an "outperform" rating in a research report on Friday, November 1st. KeyCorp upped their price target on Patrick Industries from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Raymond James boosted their price target on shares of Patrick Industries from $99.00 to $103.00 and gave the company an "outperform" 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. Finally, Benchmark boosted their target price on Patrick Industries from $98.00 to $102.00 and gave the company a "buy" rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.96.

Patrick Industries Stock Performance

NASDAQ:PATK traded up $1.59 during mid-day trading on Tuesday, reaching $92.72. The stock had a trading volume of 501,888 shares, compared to its average volume of 364,444. 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 business has a 50 day simple moving average of $90.05 and a 200 day simple moving average of $89.60. Patrick Industries, Inc. has a twelve month low of $67.72 and a twelve month high of $98.90. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.41 and a beta of 2.26.

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

Patrick Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, February 18th. Patrick Industries's dividend payout ratio is currently 38.83%.

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.