Segall Bryant & Hamill LLC Purchases 3,866 Shares of Patrick Industries, Inc. (NASDAQ:PATK)

Segall Bryant & Hamill LLC lifted its holdings in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 27.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,838 shares of the construction company's stock after acquiring an additional 3,866 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.05% of Patrick Industries worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. grew its stake in Patrick Industries by 42.4% during the fourth quarter. Prudential Financial Inc. now owns 33,989 shares of the construction company's stock worth $2,824,000 after purchasing an additional 10,126 shares during the period. Corebridge Financial Inc. grew its position in shares of Patrick Industries by 39.1% during the 4th quarter. Corebridge Financial Inc. now owns 17,296 shares of the construction company's stock worth $1,437,000 after buying an additional 4,864 shares during the period. Advantage Alpha Capital Partners LP lifted its position in shares of Patrick Industries by 44.8% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 25,885 shares of the construction company's stock valued at $2,151,000 after acquiring an additional 8,009 shares during the period. Vanguard Group Inc. lifted its position in shares of Patrick Industries by 49.3% during the 4th quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company's stock valued at $193,266,000 after acquiring an additional 768,102 shares during the period. Finally, LPL Financial LLC grew its holdings in Patrick Industries by 95.9% in the fourth quarter. LPL Financial LLC now owns 15,942 shares of the construction company's stock worth $1,325,000 after purchasing an additional 7,806 shares during the period. 93.29% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on PATK shares. Benchmark boosted their target price on Patrick Industries from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Raymond James boosted their price objective on Patrick Industries from $99.00 to $103.00 and gave the company an "outperform" rating in a report on Friday, February 7th. StockNews.com cut Patrick Industries from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Truist Financial boosted their price target 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, KeyCorp lifted their price objective on shares of Patrick Industries from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.96.

Patrick Industries Stock Performance

Patrick Industries stock traded up $2.15 during mid-day trading on Wednesday, reaching $87.26. 41,660 shares of the company's stock were exchanged, compared to its average volume of 363,628. The business's fifty day simple moving average is $90.69 and its 200 day simple moving average is $89.85. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. Patrick Industries, Inc. has a one year low of $67.72 and a one year high of $98.90. The firm has a market capitalization of $2.94 billion, a PE ratio of 21.18, a P/E/G ratio of 1.41 and a beta of 2.37.

Patrick Industries (NASDAQ:PATK - Get Free Report) last released its earnings results on Thursday, February 6th. The construction company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates 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, sell-side analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Tuesday, February 18th. Patrick Industries's dividend payout ratio is currently 38.83%.

Insider Buying and Selling at Patrick Industries

In related news, EVP Stacey L. Neu sold 2,885 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total value of $246,754.05. Following the sale, the executive vice president now directly owns 18,044 shares in the company, valued at approximately $1,543,303.32. The trade was a 13.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M Scott Welch purchased 2,500 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $84.62 per share, for a total transaction of $211,550.00. Following the transaction, the director now owns 2,961 shares of the company's stock, valued at approximately $250,559.82. This trade represents a 542.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.70% of the company's stock.

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.