New York State Common Retirement Fund Raises Position in Patrick Industries, Inc. (NASDAQ:PATK)

New York State Common Retirement Fund increased its position in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 50.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,649 shares of the construction company's stock after acquiring an additional 26,882 shares during the period. New York State Common Retirement Fund owned about 0.24% of Patrick Industries worth $6,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PATK. Kestra Investment Management LLC bought a new stake in shares of Patrick Industries during the fourth quarter worth about $25,000. Quent Capital LLC bought a new stake in Patrick Industries during the 4th quarter worth approximately $53,000. GAMMA Investing LLC increased its position in Patrick Industries by 61.2% in the 4th quarter. GAMMA Investing LLC now owns 764 shares of the construction company's stock valued at $63,000 after acquiring an additional 290 shares during the period. UMB Bank n.a. raised its stake in shares of Patrick Industries by 35.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the construction company's stock valued at $64,000 after acquiring an additional 199 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Patrick Industries during the fourth quarter worth $86,000. Institutional investors and hedge funds own 93.29% of the company's stock.

Patrick Industries Trading Up 1.1 %

NASDAQ PATK traded up $0.98 during trading hours on Friday, hitting $90.60. 413,058 shares of the company's stock were exchanged, compared to its average volume of 362,458. Patrick Industries, Inc. has a 1-year low of $67.72 and a 1-year high of $98.90. The company has a current ratio of 2.33, a quick ratio of 0.77 and a debt-to-equity ratio of 1.16. The stock has a 50-day simple moving average of $90.46 and a 200 day simple moving average of $89.72. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 1.41 and a beta of 2.26.

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Patrick Industries (NASDAQ:PATK - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The construction company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. On average, equities analysts forecast that Patrick Industries, Inc. will post 5.33 EPS 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. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.77%. Patrick Industries's dividend payout ratio is currently 38.83%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PATK shares. KeyCorp increased their price objective on Patrick Industries from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Truist Financial upped 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. StockNews.com downgraded Patrick Industries from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. Raymond James upped their target price on Patrick Industries from $99.00 to $103.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Benchmark raised their price target on shares of Patrick Industries from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Patrick Industries presently has an average rating of "Moderate Buy" and an average price target of $97.96.

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.