NJ State Employees Deferred Compensation Plan Has $1.62 Million Stock Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

NJ State Employees Deferred Compensation Plan raised its stake in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,500 shares of the construction company's stock after purchasing an additional 6,500 shares during the period. NJ State Employees Deferred Compensation Plan owned 0.06% of Patrick Industries worth $1,620,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in shares of Patrick Industries during the 4th quarter worth about $25,000. Smartleaf Asset Management LLC boosted its holdings in shares of Patrick Industries by 812.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock worth $49,000 after acquiring an additional 528 shares during the period. Quent Capital LLC acquired a new position in shares of Patrick Industries in the fourth quarter valued at approximately $53,000. Global Retirement Partners LLC increased its stake in shares of Patrick Industries by 44.8% during the fourth quarter. Global Retirement Partners LLC now owns 643 shares of the construction company's stock worth $53,000 after purchasing an additional 199 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Patrick Industries by 61.2% during the fourth quarter. GAMMA Investing LLC now owns 764 shares of the construction company's stock worth $63,000 after purchasing an additional 290 shares during the period. 93.29% of the stock is owned by institutional investors.

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Patrick Industries Price Performance

Shares of NASDAQ:PATK traded up $0.82 during midday trading on Friday, hitting $88.33. The stock had a trading volume of 287,472 shares, compared to its average volume of 426,596. The company has a quick ratio of 0.77, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $2.97 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.41 and a beta of 2.26. The company's 50-day moving average price is $90.80 and its 200-day moving average price is $89.80. Patrick Industries, Inc. has a fifty-two week low of $45.15 and a fifty-two week high of $98.60.

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, topping 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%. As a group, equities research analysts predict that Patrick Industries, Inc. will post 5.33 EPS for the current fiscal year.

Patrick Industries Announces Dividend

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 yield of 1.81%. The ex-dividend date was Tuesday, February 18th. Patrick Industries's dividend payout ratio (DPR) is presently 38.83%.

Analyst Ratings Changes

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