Louisiana State Employees Retirement System lowered its holdings in Patrick Industries, Inc. (NASDAQ:PATK) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,537 shares of the construction company’s stock after selling 1,713 shares during the period. Louisiana State Employees Retirement System’s holdings in Patrick Industries were worth $253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Hawaiian Bank bought a new stake in Patrick Industries in the 3rd quarter valued at about $167,000. Edge Wealth Management LLC boosted its holdings in Patrick Industries by 17,948.7% in the 4th quarter. Edge Wealth Management LLC now owns 7,039 shares of the construction company’s stock valued at $208,000 after purchasing an additional 7,000 shares during the period. Wakefield Asset Management LLLP bought a new stake in Patrick Industries in the 3rd quarter valued at about $212,000. Verition Fund Management LLC bought a new stake in Patrick Industries in the 3rd quarter valued at about $226,000. Finally, Janus Henderson Group PLC bought a new stake in Patrick Industries in the 3rd quarter valued at about $238,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

PATK has been the subject of a number of recent research reports. BidaskClub raised shares of Patrick Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 9th. Zacks Investment Research cut shares of Patrick Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Wells Fargo & Co dropped their target price on shares of Patrick Industries from $67.00 to $30.00 and set a “market perform” rating for the company in a research report on Tuesday, December 18th. Sidoti dropped their target price on shares of Patrick Industries from $90.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Finally, TheStreet cut shares of Patrick Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, December 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $64.75.

Shares of NASDAQ:PATK opened at $39.96 on Thursday. The company has a market capitalization of $966.04 million, a PE ratio of 8.67, a PEG ratio of 0.58 and a beta of 1.94. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.43. Patrick Industries, Inc. has a 12 month low of $27.32 and a 12 month high of $69.85.

In other news, CEO Todd M. Cleveland bought 10,000 shares of the company’s stock in a transaction dated Monday, December 17th. The stock was bought at an average cost of $29.59 per share, for a total transaction of $295,900.00. Following the transaction, the chief executive officer now owns 601,219 shares of the company’s stock, valued at $17,790,070.21. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Courtney Blosser sold 2,993 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $36.04, for a total transaction of $107,867.72. Following the completion of the transaction, the insider now owns 39,372 shares of the company’s stock, valued at $1,418,966.88. The disclosure for this sale can be found here. Insiders sold a total of 356,737 shares of company stock valued at $11,131,139 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

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Patrick Industries Company Profile

Patrick Industries, Inc manufactures and distributes building products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States and Canada. Its Manufacturing segment manufactures and sells furniture, shelving, walls, countertops, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, solid surface, granite, and quartz countertop fabrication products; RV paintings; fabricated aluminum products; fiberglass and plastic components; softwoods lumber; custom cabinets; polymer-based flooring products; and electrical systems and components, including instrument and dash panels, and other products.

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Institutional Ownership by Quarter for Patrick Industries (NASDAQ:PATK)

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