NumerixS Investment Technologies Inc reduced its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 17.2% during the 1st quarter, Holdings Channel reports. The firm owned 4,800 shares of the construction company’s stock after selling 1,000 shares during the quarter. NumerixS Investment Technologies Inc’s holdings in Patrick Industries were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Patrick Industries by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,190,377 shares of the construction company’s stock worth $53,947,000 after acquiring an additional 116,035 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Patrick Industries by 9.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,380 shares of the construction company’s stock worth $561,000 after buying an additional 1,086 shares during the period. Globeflex Capital L P boosted its holdings in shares of Patrick Industries by 5.3% during the 1st quarter. Globeflex Capital L P now owns 34,300 shares of the construction company’s stock worth $1,554,000 after buying an additional 1,729 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Patrick Industries by 65.3% during the 1st quarter. Wells Fargo & Company MN now owns 274,268 shares of the construction company’s stock worth $12,430,000 after buying an additional 108,359 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Patrick Industries by 0.4% during the 1st quarter. BlackRock Inc. now owns 3,307,452 shares of the construction company’s stock worth $149,894,000 after buying an additional 14,015 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

NASDAQ:PATK traded down $0.89 during mid-day trading on Wednesday, reaching $44.64. 1,689 shares of the company were exchanged, compared to its average volume of 264,217. Patrick Industries, Inc. has a 12 month low of $27.32 and a 12 month high of $67.50. The company has a quick ratio of 0.75, a current ratio of 1.97 and a debt-to-equity ratio of 1.56. The firm has a market cap of $1.09 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.53 and a beta of 2.01.

Patrick Industries (NASDAQ:PATK) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Patrick Industries had a net margin of 4.77% and a return on equity of 25.64%. The firm had revenue of $608.20 million for the quarter, compared to analyst estimates of $595.67 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Patrick Industries, Inc. will post 4.29 earnings per share for the current fiscal year.

PATK has been the subject of a number of recent research reports. TheStreet upgraded shares of Patrick Industries from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. Bank of America initiated coverage on shares of Patrick Industries in a research report on Tuesday, March 26th. They set a “buy” rating and a $53.00 target price for the company. Zacks Investment Research upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Thursday, April 4th. BidaskClub upgraded shares of Patrick Industries from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Finally, ValuEngine upgraded shares of Patrick Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Patrick Industries has an average rating of “Hold” and an average target price of $58.40.

In other Patrick Industries news, Director Walter E. Wells sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $50.60, for a total transaction of $506,000.00. Following the sale, the director now directly owns 50,030 shares in the company, valued at $2,531,518. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.60% of the stock is owned by corporate insiders.

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Patrick Industries 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; decorative vinyl and paper laminated panels; 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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