Amalgamated Bank Has $820,000 Stake in Patrick Industries, Inc. (NASDAQ:PATK)

Amalgamated Bank boosted its holdings in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 50.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,872 shares of the construction company's stock after purchasing an additional 3,299 shares during the period. Amalgamated Bank's holdings in Patrick Industries were worth $820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PATK. State Street Corp raised its position in shares of Patrick Industries by 3.5% during the third quarter. State Street Corp now owns 816,031 shares of the construction company's stock worth $116,178,000 after acquiring an additional 27,669 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Patrick Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 519,440 shares of the construction company's stock valued at $73,968,000 after purchasing an additional 20,694 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Patrick Industries by 2.5% during the third quarter. Wellington Management Group LLP now owns 412,296 shares of the construction company's stock worth $58,699,000 after buying an additional 9,917 shares during the last quarter. Copeland Capital Management LLC boosted its stake in Patrick Industries by 536.5% in the fourth quarter. Copeland Capital Management LLC now owns 360,804 shares of the construction company's stock valued at $29,976,000 after acquiring an additional 304,119 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Patrick Industries by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 353,633 shares of the construction company's stock valued at $50,347,000 after acquiring an additional 17,747 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company's stock.

Remove Ads

Patrick Industries Stock Up 0.9 %

Shares of PATK stock traded up $0.75 during trading on Friday, reaching $88.26. The company's stock had a trading volume of 141,491 shares, compared to its average volume of 426,026. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26. Patrick Industries, Inc. has a one year low of $45.15 and a one year high of $98.60. The business has a fifty day moving average price of $90.80 and a 200-day moving average price of $89.80. 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 (NASDAQ:PATK - Get Free Report) last announced 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 return on equity of 13.25% and a net margin of 3.72%. Analysts anticipate that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Patrick Industries Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.81%. Patrick Industries's dividend payout ratio is currently 38.83%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com downgraded Patrick Industries from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Benchmark upped their target price on shares of Patrick Industries from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, February 7th. KeyCorp lifted their price target on shares of Patrick Industries from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Truist Financial upped their price objective on shares of Patrick Industries from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, February 10th. Finally, Raymond James lifted their target price on Patrick Industries from $99.00 to $103.00 and gave the stock an "outperform" 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.