Patrick Industries, Inc. (PATK) Shares Bought by Thompson Siegel & Walmsley LLC
Thompson Siegel & Walmsley LLC raised its position in Patrick Industries, Inc. (NASDAQ:PATK) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,622 shares of the construction company’s stock after purchasing an additional 8,695 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.48% of Patrick Industries worth $6,780,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in Patrick Industries by 13.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,421 shares of the construction company’s stock valued at $104,000 after purchasing an additional 168 shares during the period. Pinebridge Investments L.P. raised its position in Patrick Industries by 10.0% in the second quarter. Pinebridge Investments L.P. now owns 2,097 shares of the construction company’s stock valued at $153,000 after purchasing an additional 191 shares during the period. Advisor Group Inc. raised its position in Patrick Industries by 12.1% in the second quarter. Advisor Group Inc. now owns 2,296 shares of the construction company’s stock valued at $168,000 after purchasing an additional 247 shares during the period. Pacad Investment Ltd. raised its position in Patrick Industries by 76.9% in the second quarter. Pacad Investment Ltd. now owns 2,300 shares of the construction company’s stock valued at $168,000 after purchasing an additional 1,000 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in Patrick Industries in the second quarter valued at approximately $202,000. 88.91% of the stock is currently owned by institutional investors.
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Shares of Patrick Industries, Inc. (PATK) opened at $94.20 on Friday. Patrick Industries, Inc. has a 12-month low of $60.10 and a 12-month high of $96.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.00 and a current ratio of 2.23. The firm has a market capitalization of $1,584.62, a price-to-earnings ratio of 21.56, a PEG ratio of 1.97 and a beta of 0.99.
Patrick Industries’s stock is set to split on Monday, December 11th. The 3-2 split was announced on Thursday, November 9th. The newly created shares will be payable to shareholders after the closing bell on Friday, December 8th.
Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings data on Thursday, October 26th. The construction company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.15. Patrick Industries had a return on equity of 24.60% and a net margin of 4.73%. The business had revenue of $407.50 million for the quarter, compared to analyst estimates of $371.98 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. The company’s revenue was up 34.0% on a year-over-year basis. research analysts forecast that Patrick Industries, Inc. will post 4.53 EPS for the current fiscal year.
In related news, CEO Todd M. Cleveland sold 10,000 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $89.87, for a total value of $898,700.00. Following the transaction, the chief executive officer now owns 340,827 shares of the company’s stock, valued at $30,630,122.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joshua A. Boone sold 520 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $73.00, for a total value of $37,960.00. Following the completion of the transaction, the vice president now directly owns 7,445 shares in the company, valued at approximately $543,485. The disclosure for this sale can be found here. Insiders sold 230,546 shares of company stock worth $19,248,750 in the last three months. 6.20% of the stock is currently owned by corporate insiders.
A number of research firms have recently weighed in on PATK. Zacks Investment Research raised Patrick Industries from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Thursday, October 26th. Bank of America Corporation upped their price objective on Patrick Industries from $85.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Patrick Industries in a research report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Patrick Industries has an average rating of “Buy” and an average price target of $84.50.
Patrick Industries Company Profile
Patrick Industries, Inc is a manufacturer of component products and distributor of building products and materials for the recreational vehicle (RV) and manufactured housing (MH) industrial markets for customers throughout the United States and Canada. In addition, it is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, and other industrial markets.
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