Patrick Industries, Inc. $PATK Stock Holdings Increased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Patrick Industries, Inc. (NASDAQ:PATK) by 12,134.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 259,365 shares of the construction company’s stock after buying an additional 257,245 shares during the quarter. SG Americas Securities LLC’s holdings in Patrick Industries were worth $28,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PATK. American Century Companies Inc. increased its stake in Patrick Industries by 33.8% in the 2nd quarter. American Century Companies Inc. now owns 712,383 shares of the construction company’s stock valued at $65,732,000 after buying an additional 180,092 shares during the period. Tributary Capital Management LLC boosted its stake in shares of Patrick Industries by 52.0% during the 3rd quarter. Tributary Capital Management LLC now owns 371,608 shares of the construction company’s stock valued at $38,435,000 after buying an additional 127,099 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Patrick Industries during the 2nd quarter valued at $9,800,000. Watchtower Advisors LP purchased a new position in shares of Patrick Industries during the 2nd quarter valued at $9,227,000. Finally, Kennedy Capital Management LLC increased its stake in shares of Patrick Industries by 54.0% in the second quarter. Kennedy Capital Management LLC now owns 228,391 shares of the construction company’s stock worth $21,074,000 after acquiring an additional 80,125 shares during the last quarter. 93.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director M Scott Welch bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $113.68 per share, with a total value of $1,136,800.00. Following the completion of the transaction, the director directly owned 146,000 shares of the company’s stock, valued at $16,597,280. This trade represents a 7.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stacey L. Amundson sold 3,903 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $145.61, for a total value of $568,315.83. Following the transaction, the executive vice president owned 12,819 shares in the company, valued at approximately $1,866,574.59. This trade represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 11,110 shares of company stock worth $1,289,895 and sold 20,121 shares worth $2,477,337. 4.40% of the stock is currently owned by insiders.

Patrick Industries Stock Down 3.4%

PATK stock opened at $108.16 on Friday. The firm has a market cap of $3.60 billion, a PE ratio of 27.66 and a beta of 1.33. Patrick Industries, Inc. has a 1 year low of $72.99 and a 1 year high of $148.50. The company has a fifty day simple moving average of $126.41 and a 200 day simple moving average of $113.58. The company has a current ratio of 2.51, a quick ratio of 0.80 and a debt-to-equity ratio of 1.08.

Patrick Industries (NASDAQ:PATK) last posted its earnings results on Thursday, February 5th. The construction company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.74 by $0.10. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The firm had revenue of $924.17 million for the quarter, compared to the consensus estimate of $858.62 million. During the same period in the prior year, the business posted $0.52 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current fiscal year.

Patrick Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.7%. Patrick Industries’s dividend payout ratio is currently 48.08%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen lowered Patrick Industries from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Truist Financial set a $126.00 target price on Patrick Industries in a research report on Friday, January 9th. Weiss Ratings raised Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Roth Mkm reiterated a “buy” rating and set a $157.00 price target on shares of Patrick Industries in a report on Monday, February 9th. Finally, Benchmark reissued a “buy” rating on shares of Patrick Industries in a research note on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $135.13.

About Patrick Industries

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.