Aquatic Capital Management LLC Acquires Shares of 4,548 Patrick Industries, Inc. (NASDAQ:PATK)

Aquatic Capital Management LLC acquired a new stake in shares of Patrick Industries, Inc. (NASDAQ:PATK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,548 shares of the construction company's stock, valued at approximately $378,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Patrick Industries during the fourth quarter worth approximately $25,000. Covestor Ltd grew its holdings in Patrick Industries by 10,400.0% during the 4th quarter. Covestor Ltd now owns 315 shares of the construction company's stock worth $26,000 after acquiring an additional 312 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Patrick Industries by 49.8% in the 4th quarter. Quadrant Capital Group LLC now owns 328 shares of the construction company's stock worth $27,000 after purchasing an additional 109 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Patrick Industries by 49.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344 shares of the construction company's stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Patrick Industries by 812.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 593 shares of the construction company's stock worth $49,000 after purchasing an additional 528 shares during the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Patrick Industries Stock Performance

Shares of Patrick Industries stock traded down $1.16 during trading on Tuesday, hitting $81.76. 321,974 shares of the stock were exchanged, compared to its average volume of 352,343. The stock has a market cap of $2.74 billion, a PE ratio of 19.84, a P/E/G ratio of 1.41 and a beta of 2.05. The stock's fifty day moving average is $82.91 and its 200 day moving average is $87.06. Patrick Industries, Inc. has a 12 month low of $67.72 and a 12 month high of $98.90. 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 (NASDAQ:PATK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The construction company reported $1.11 EPS 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $959.46 million. During the same quarter last year, the business earned $1.79 earnings per share. Patrick Industries's revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Patrick Industries, Inc. will post 5.33 EPS for the current year.

Insider Activity at Patrick Industries

In other Patrick Industries news, EVP Stacey L. Neu sold 2,885 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $85.53, for a total transaction of $246,754.05. Following the completion of the transaction, the executive vice president now directly owns 18,044 shares of the company's stock, valued at approximately $1,543,303.32. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M Scott Welch acquired 2,500 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $84.62 per share, for a total transaction of $211,550.00. Following the purchase, the director now directly owns 2,961 shares in the company, valued at approximately $250,559.82. This represents a 542.30 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PATK. Roth Mkm reissued a "buy" rating and issued a $100.00 price objective (down from $112.00) on shares of Patrick Industries in a report on Friday. StockNews.com raised Patrick Industries from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Baird R W cut Patrick Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Benchmark boosted their target price on shares of Patrick Industries from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Robert W. Baird reduced their price target on shares of Patrick Industries from $96.00 to $84.00 and set a "neutral" rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and six have given 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.

About Patrick Industries

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.