Aquatic Capital Management LLC Takes Position in Patrick Industries, Inc. (NASDAQ:PATK)

Aquatic Capital Management LLC purchased a new position in Patrick Industries, Inc. (NASDAQ:PATK - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,548 shares of the construction company's stock, valued at approximately $378,000.

Several other large investors have also made changes to their positions in PATK. Wellington Management Group LLP grew its stake in shares of Patrick Industries by 391.8% during the fourth quarter. Wellington Management Group LLP now owns 2,027,708 shares of the construction company's stock valued at $168,462,000 after buying an additional 1,615,412 shares during the last quarter. Vanguard Group Inc. grew its stake in Patrick Industries by 49.3% during the 4th quarter. Vanguard Group Inc. now owns 2,326,262 shares of the construction company's stock valued at $193,266,000 after purchasing an additional 768,102 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Patrick Industries by 48.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,863,547 shares of the construction company's stock valued at $154,823,000 after acquiring an additional 609,036 shares during the last quarter. Capital Research Global Investors purchased a new stake in Patrick Industries in the 4th quarter worth approximately $38,275,000. Finally, Schroder Investment Management Group acquired a new position in Patrick Industries in the 4th quarter worth about $26,602,000. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Patrick Industries Trading Up 2.1 %

Shares of Patrick Industries stock traded up $1.70 on Thursday, hitting $82.88. The stock had a trading volume of 29,395 shares, compared to its average volume of 351,692. The firm has a market capitalization of $2.78 billion, a P/E ratio of 20.12, a PEG ratio of 1.41 and a beta of 2.05. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.77 and a current ratio of 2.33. Patrick Industries, Inc. has a twelve month low of $67.72 and a twelve month high of $98.90. The stock has a 50 day moving average of $82.56 and a 200 day moving average of $86.98.

Patrick Industries (NASDAQ:PATK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. Patrick Industries had a net margin of 3.72% and a return on equity of 13.25%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $959.46 million. During the same quarter last year, the company posted $1.79 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that Patrick Industries, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Patrick Industries news, EVP Stacey L. Neu sold 2,885 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $85.53, for a total value of $246,754.05. Following the completion of the sale, the executive vice president now owns 18,044 shares of the company's stock, valued at $1,543,303.32. This trade represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Scott Welch acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $86.22 per share, for a total transaction of $862,200.00. Following the completion of the acquisition, the director now owns 136,000 shares of the company's stock, valued at $11,725,920. This trade represents a 7.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com raised shares of Patrick Industries from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Raymond James reduced their target price on Patrick Industries from $103.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Baird R W downgraded shares of Patrick Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp decreased their price target on Patrick Industries from $110.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Robert W. Baird cut their price target on shares of Patrick Industries from $96.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.29.

Patrick Industries Company Profile

Patrick Industries, Inc manufactures and distributes component products and materials for the recreational vehicle, marine, manufactured housing, and industrial markets in the United States, Mexico, China, and Canada. Its Manufacturing segment manufactures and sells laminated products for furniture, shelving, wall, countertop, and cabinet products; cabinet doors, fiberglass bath fixtures, and tile systems; hardwood furniture, vinyl printing, amplifiers, tower speakers, soundbars, and subwoofers; solid surface, granite, and quartz countertop fabrication; aluminum products; fiberglass and plastic components; RV paintings; decorative vinyl and paper laminated panels; softwoods lumber; custom cabinets; polymer-based flooring products; dash panels; and other products.