Epoch Investment Partners Inc. Purchases 25,211 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Epoch Investment Partners Inc. lifted its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 94.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,872 shares of the construction company's stock after purchasing an additional 25,211 shares during the quarter. Epoch Investment Partners Inc. owned 0.15% of Patrick Industries worth $4,310,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in Patrick Industries by 49.8% during the fourth quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock valued at $27,000 after purchasing an additional 109 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position 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 valued at $29,000 after purchasing an additional 114 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Patrick Industries by 35.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the construction company's stock valued at $64,000 after buying an additional 199 shares in the last quarter. Global Retirement Partners LLC lifted its position in Patrick Industries by 44.8% in 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 last quarter. Finally, IFP Advisors Inc boosted its stake in Patrick Industries by 35.8% in the fourth quarter. IFP Advisors Inc now owns 1,044 shares of the construction company's stock worth $87,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company's stock.

Patrick Industries Trading Up 2.6 %

NASDAQ:PATK traded up $2.00 during mid-day trading on Thursday, reaching $79.96. 675,493 shares of the company's stock traded hands, compared to its average volume of 343,135. 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 company has a 50 day moving average price of $84.64 and a 200-day moving average price of $87.91. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.41 and a beta of 2.17.

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

Patrick Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries's payout ratio is 38.83%.

Insider Activity at Patrick Industries

In other Patrick Industries news, Director M Scott Welch acquired 2,500 shares of the business's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $84.62 per share, for a total transaction of $211,550.00. Following the completion of the acquisition, the director now owns 2,961 shares in the company, valued at $250,559.82. This trade represents a 542.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stacey L. Neu sold 2,885 shares of Patrick Industries 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 transaction, the executive vice president now owns 18,044 shares of the company's stock, valued at $1,543,303.32. The trade was a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PATK. Baird R W downgraded shares of Patrick Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Raymond James lifted their target price on shares of Patrick Industries from $99.00 to $103.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. StockNews.com lowered shares of Patrick Industries from a "hold" rating to a "sell" rating in a research report on Thursday, January 16th. KeyCorp reduced their price objective on Patrick Industries from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Truist Financial lowered their target price on Patrick Industries from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Patrick Industries has an average rating of "Moderate Buy" and an average target price of $96.79.

Patrick Industries 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.