Janus Henderson Group PLC Buys New Holdings in Patrick Industries, Inc. (NASDAQ:PATK)

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Janus Henderson Group PLC acquired a new position in shares of Patrick Industries, Inc. (NASDAQ:PATK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,602 shares of the construction company’s stock, valued at approximately $226,000.

A number of other hedge funds also recently added to or reduced their stakes in PATK. Millennium Management LLC grew its holdings in Patrick Industries by 59.9% in the fourth quarter. Millennium Management LLC now owns 26,013 shares of the construction company’s stock worth $770,000 after purchasing an additional 9,740 shares during the period. Dimensional Fund Advisors LP grew its holdings in Patrick Industries by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,074,342 shares of the construction company’s stock worth $31,812,000 after purchasing an additional 51,096 shares during the period. Norges Bank purchased a new stake in Patrick Industries in the fourth quarter worth about $7,140,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Patrick Industries in the first quarter worth about $257,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Patrick Industries by 53,288.9% in the first quarter. BNP Paribas Arbitrage SA now owns 4,805 shares of the construction company’s stock worth $218,000 after purchasing an additional 4,796 shares during the period. 93.12% of the stock is currently owned by institutional investors.

NASDAQ:PATK opened at $33.94 on Wednesday. The company’s 50 day moving average price is $42.35 and its 200-day moving average price is $45.37. Patrick Industries, Inc. has a 52 week low of $27.32 and a 52 week high of $67.50. The company has a quick ratio of 0.78, a current ratio of 2.01 and a debt-to-equity ratio of 1.37. The stock has a market cap of $848.54 million, a price-to-earnings ratio of 7.30, a PEG ratio of 1.24 and a beta of 2.00.

Patrick Industries (NASDAQ:PATK) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. The firm had revenue of $613.20 million for the quarter, compared to analysts’ expectations of $621.33 million. Patrick Industries had a net margin of 4.43% and a return on equity of 23.07%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 earnings per share. As a group, sell-side analysts anticipate that Patrick Industries, Inc. will post 4.18 earnings per share for the current year.

In related news, Director M Scott Welch acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $39.00 per share, for a total transaction of $390,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey L. Et Al Gendell sold 45,254 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $46.45, for a total transaction of $2,102,048.30. The disclosure for this sale can be found here. 7.60% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of Patrick Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 23rd. TheStreet cut shares of Patrick Industries from a “b-” rating to a “c+” rating in a report on Friday, August 2nd. BidaskClub cut shares of Patrick Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 16th. Finally, Zacks Investment Research upgraded shares of Patrick Industries from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Patrick Industries has a consensus rating of “Hold” and a consensus target price of $58.40.

About Patrick Industries

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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