NBW Capital LLC Acquires 34,884 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

NBW Capital LLC raised its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 48.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,192 shares of the construction company's stock after buying an additional 34,884 shares during the period. Patrick Industries comprises 1.7% of NBW Capital LLC's investment portfolio, making the stock its 20th largest position. NBW Capital LLC owned 0.32% of Patrick Industries worth $8,906,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted 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 worth $49,000 after buying an additional 528 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Patrick Industries by 51.1% during the 4th quarter. Mutual of America Capital Management LLC now owns 5,090 shares of the construction company's stock valued at $423,000 after buying an additional 1,721 shares during the period. Versor Investments LP raised its position in shares of Patrick Industries by 78.0% during the 4th quarter. Versor Investments LP now owns 7,654 shares of the construction company's stock worth $636,000 after buying an additional 3,354 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Patrick Industries by 50.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,877 shares of the construction company's stock worth $654,000 after purchasing an additional 2,626 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in Patrick Industries by 62.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 17,826 shares of the construction company's stock valued at $1,481,000 after buying an additional 6,875 shares in the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

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

Patrick Industries Trading Up 0.9 %

Shares of Patrick Industries stock traded up $0.82 during trading on Friday, hitting $88.33. The company's stock had a trading volume of 287,472 shares, compared to its average volume of 426,596. Patrick Industries, Inc. has a 52 week low of $45.15 and a 52 week high of $98.60. 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 stock has a market cap of $2.97 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26. The stock has a 50-day moving average price of $90.80 and a two-hundred day moving average price of $89.80.

Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its quarterly earnings results 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%. Equities research analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current fiscal year.

Patrick Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.40 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.81%. Patrick Industries's payout ratio is presently 38.83%.

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.