Patrick Industries, Inc. $PATK Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in Patrick Industries, Inc. (NASDAQ:PATK) by 12,134.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned approximately 0.78% of Patrick Industries worth $28,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in shares of Patrick Industries during the third quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of Patrick Industries during the third quarter valued at approximately $25,000. Cornerstone Planning Group LLC acquired a new stake in Patrick Industries in the third quarter worth $31,000. Strs Ohio bought a new stake in Patrick Industries in the 1st quarter valued at about $42,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Patrick Industries by 87.5% during the third quarter. Parkside Financial Bank & Trust now owns 478 shares of the construction company’s stock valued at $49,000 after buying an additional 223 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Patrick Industries Price Performance

PATK stock opened at $108.16 on Friday. Patrick Industries, Inc. has a one year low of $72.99 and a one year high of $148.50. The firm has a 50-day moving average of $126.41 and a two-hundred day moving average of $113.58. The firm has a market capitalization of $3.60 billion, a PE ratio of 27.66 and a beta of 1.33. 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 released its earnings results on Thursday, February 5th. The construction company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. The business had revenue of $924.17 million for the quarter, compared to the consensus estimate of $858.62 million. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts forecast that Patrick Industries, Inc. will post 5.33 earnings per share for the current year.

Patrick Industries Announces Dividend

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

Insider Activity at Patrick Industries

In other news, CAO Matthew S. Filer bought 1,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were bought at an average cost of $139.91 per share, with a total value of $139,910.00. Following the purchase, the chief accounting officer directly owned 20,614 shares in the company, valued at $2,884,104.74. This trade represents a 5.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stacey L. Amundson sold 3,903 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 12,819 shares of the company’s stock, valued at $1,866,574.59. The trade was a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders acquired 11,110 shares of company stock worth $1,289,895 and sold 20,121 shares worth $2,477,337. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Patrick Industries in a report on Friday, February 6th. Truist Financial set a $126.00 price target on shares of Patrick Industries in a research report on Friday, January 9th. Roth Mkm reissued a “buy” rating and set a $157.00 target price on shares of Patrick Industries in a research note on Monday, February 9th. Wall Street Zen downgraded Patrick Industries from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Benchmark reissued a “buy” rating on shares of Patrick Industries in a research note on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.13.

Patrick Industries Company Profile

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.