WINTON GROUP Ltd purchased a new stake in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 75,824 shares of the construction company's stock, valued at approximately $6,299,000. WINTON GROUP Ltd owned about 0.23% of Patrick Industries as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Patrick Industries by 49.3% in the fourth quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company's stock valued at $193,266,000 after purchasing an additional 768,102 shares during the last quarter. State Street Corp boosted its stake in Patrick Industries by 3.5% during the 3rd quarter. State Street Corp now owns 816,031 shares of the construction company's stock valued at $116,178,000 after purchasing an additional 27,669 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Patrick Industries by 55.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 548,771 shares of the construction company's stock valued at $45,592,000 after buying an additional 195,138 shares during the last quarter. Geode Capital Management LLC increased its position in Patrick Industries by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 519,440 shares of the construction company's stock worth $73,968,000 after buying an additional 20,694 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Patrick Industries by 159.8% during the fourth quarter. American Century Companies Inc. now owns 516,767 shares of the construction company's stock worth $42,933,000 after buying an additional 317,864 shares during the last quarter. Institutional investors own 93.29% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Benchmark raised 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. StockNews.com downgraded shares of Patrick Industries from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Raymond James lifted 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. KeyCorp upped their price target on Patrick Industries from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, Truist Financial lifted their price objective on Patrick Industries from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.96.
Check Out Our Latest Stock Analysis on PATK
Insider Buying and Selling 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 stock was purchased at an average price of $84.62 per share, for a total transaction of $211,550.00. Following the transaction, the director now owns 2,961 shares in the company, valued at $250,559.82. This trade represents a 542.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stacey L. Neu sold 2,885 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was 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 in the company, valued at approximately $1,543,303.32. This trade represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.70% of the company's stock.
Patrick Industries Price Performance
Shares of PATK traded up $0.25 during mid-day trading on Monday, reaching $84.15. The company had a trading volume of 20,603 shares, compared to its average volume of 324,411. 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 market capitalization of $2.83 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.41 and a beta of 2.37. Patrick Industries, Inc. has a twelve month low of $67.72 and a twelve month high of $98.90. The company's 50-day moving average is $91.05 and its 200-day moving average is $89.91.
Patrick Industries (NASDAQ:PATK - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The construction company reported $0.52 earnings per share (EPS) 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%. On average, equities analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current year.
Patrick Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, February 18th. Patrick Industries's dividend payout ratio is currently 38.83%.
About Patrick Industries
(
Free Report)
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.
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