Patrick Industries, Inc. (NASDAQ:PATK) Shares Acquired by Assetmark Inc.

Assetmark Inc. boosted its holdings in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,826 shares of the construction company's stock after buying an additional 3,239 shares during the quarter. Assetmark Inc.'s holdings in Patrick Industries were worth $816,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Patrick Industries in the 4th quarter worth $25,000. Smartleaf Asset Management LLC boosted its position in shares of Patrick Industries by 812.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock valued at $49,000 after purchasing an additional 528 shares during the period. Quent Capital LLC purchased a new position in Patrick Industries in the 4th quarter worth about $53,000. Global Retirement Partners LLC raised its holdings 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 buying an additional 199 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Patrick Industries by 61.2% during the fourth quarter. GAMMA Investing LLC now owns 764 shares of the construction company's stock valued at $63,000 after buying an additional 290 shares in the last quarter. Institutional investors own 93.29% of the company's stock.

Patrick Industries Stock Performance

Shares of PATK stock opened at $85.19 on Wednesday. Patrick Industries, Inc. has a fifty-two week low of $67.72 and a fifty-two week high of $98.90. The stock's 50-day moving average is $91.00 and its two-hundred day moving average is $89.92. 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 has a market cap of $2.87 billion, a P/E ratio of 20.68, a PEG ratio of 1.41 and a beta of 2.37.

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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 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%. Analysts predict that Patrick Industries, Inc. will post 5.33 earnings per share for the current fiscal year.

Patrick Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries's payout ratio is presently 38.83%.

Wall Street Analyst Weigh In

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

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.

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